Catholic Health Initiatives selling $1.5 billion taxable five-, 10-, 30-year bonds Thursday

By Andrea Heisinger

New York, Oct. 25 - Catholic Health Initiatives is expected to price $1.5 billion of taxable bonds (Aa3/AA-/) in three tranches on Thursday, a source away from the trade said.

The notes will be in tranches due 2017, 2022 and 2042.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will go toward covering the $500 million to $550 million cost of acquiring the other half of Alegent Creighton Health from Catholic Health's co-owner, along with other general corporate purposes, including ambulatory and physician expansion and technology investments.

The non-profit health organization is based in Englewood, Colo.

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