The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

U.S. Bank Healthcare Closes $405 Million in Credit Facilities for Providence Health & Services

Wednesday, September 12, 2012

U.S. Bank Healthcare Closes $405 Million in Credit Facilities for Providence Health & Services09:00 EDT Wednesday, September 12, 2012 MINNEAPOLIS (Business Wire) -- U.S. Bank announced that its Healthcare Division has closed three credit facilities totaling more than $405 million for Providence Health & Services. U.S. Bank is the administrative agent, liquidity provider, co-lead arranger and joint bookrunner for the transactions in addition to serving as the bond trustee. “U.S. Bank Healthcare is pleased to expand our relationship with Providence Health & Services," said Robert Joyce, senior vice president and business head of U.S. Bank Healthcare. “Providence Health & Services has established itself as a leader in the West and U.S. Bank is proud to help Providence further its contribution to the communities it serves.” Providence Health & Services is a not-for-profit Catholic health care ministry committed to providing for the needs of the communities it serves – especially for those who are poor and vulnerable. Providence Health & Services continues a tradition of caring that the Sisters of Providence began more than 155 years ago. In 2012, Providence affiliated with Swedish Health Services, expanding both organizations' ability to carry out their individual missions. With this affiliation, the combined scope of services includes 32 hospitals, 350 physician clinics, senior services, supportive housing and many other health and educational services. The health system employs more than 64,000 people across five states – Alaska, California, Montana, Oregon and Washington – with its system office located in Renton, Washington. About U.S. Bank HealthcareThe U.S. Bank HealthcareDivisionserves large healthcare institutions by leveraging its expertise and understanding of the unique dynamics of the industry to deliver flexible and creative credit, capital markets, treasury management, payments and trust and custody solutions in a relationship-based, consultative manner. The group serves healthcare clients nationally from offices in St. Louis, Nashville, Atlanta, Seattle, New York, Milwaukee, Cincinnati, Portland, Oregon and Newport Beach, California. For more information, please visit About U.S. BancorpMinneapolis-based U.S. Bancorp (NYSE: USB), with $353 billion in assets as of June 30, 2012, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,080 banking offices in 25 states and 5,085 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at U.S. Bank HealthcareAimee LaCasse, 415-464-8526aimee.lacasse@usbank.comorU.S. Bank Public RelationsTeri Charest,