MINNEAPOLIS & ROSEVILLE, Calif.--(BUSINESS WIRE)--U.S. Bank today announced that its Healthcare Division has acted as sole bookrunner in providing a $300 million revolving line of credit to Adventist Health System West. Adventist Health is a faith-based, not-for-profit health delivery system operating 20 hospitals and nearly 3,000 beds, as well as more than 260 clinics and other agencies.
“U.S. Bank has become the most trusted choice for many hospital systems and other healthcare providers,” said Robert Joyce, senior vice president and head of Healthcare at U.S. Bank. “We’re delighted to provide Adventist Health System West with this credit facility and look forward to continuing to support its growth and strategic mission.”
“Over the years, we have trusted in U.S. Bank’s stability and commitment to the healthcare industry,” said Brandon Seibold, treasurer at Adventist Health System West. “We appreciate that we can rely on their expertise and straightforward approach to helping us meet our complex business needs.”
U.S. Bank is a leading financial institution for organizations across the healthcare industry, including hospitals, managed care and insurers, pharmaceutical and biotech firms, and medical device companies. It counts over 75% of the top 100 not-for-profit hospital systems as clients and since 2012 has led more than 50% of syndicated transactions for not-for-profit health systems.
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $450 billion in assets as of March 31, 2017, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,091 banking offices in 25 states and 4,838 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.