June 2002

Catholic Health Initiatives Announces 2002 Bond Financing

The Board of Stewardship Trustees of Catholic Health Initiatives has approved a tax-exempt bond issue of up to $350 million for the fall of 2002. Concurrent with the closing of the 2002 financing, Immanuel Medical Center and Alegent Health, both parties to the Alegent Health joint operating agreement in Omaha, Neb., are expected to join the Catholic Health Initiatives credit group. A portion of the 2002 financing will be used to refinance the debt of Immanuel Medical Center. Other objectives of the financing are to provide for future loans to market-based organizations for certain capital projects and to refinance certain outstanding fixed-rate issues for interest savings. The 2002 bond issue will include the financing of qualified past and future capital expenditures of selected market-based organizations. The bond issue is expected to be a combination of fixed- and variable-rate debt issued through authorities in Colorado, Oregon and possibly Washington. The financing is scheduled to close in early November. For more information regarding the 2002 financing plan, contact Jerry Judd, vice president of treasury services at jerryjudd@chi-national.org or Linda MacDonald, director of capital finance at lindamacdonald@chi-national.org.