CommonSpirit Health seeks to raise $1.5B from bond issues

CommonSpirit Health has issued a pair of bonds as it aims to raise $1.5 billion to cover both past and future expenses.

Chicago-based CommonSpirit will use the proceeds to refinance prior debt, reimburse prior capital expenditures and fund general corporate purposes, according to documents the not-for-profit Catholic health system published on Friday.

It’s common for large organizations to refinance when bullet payments—lump sums that…