MINNEAPOLIS--(BUSINESS WIRE)--Feb. 15, 2012--
U.S. Bank announced that its Healthcare Division closed on a $170
million senior credit facility for Long Beach, Calif.-based Molina
Healthcare. The bank served as sole lead arranger, sole bookrunner and
administrative agent on the transaction.
“We are pleased to continue our long term relationship with Molina
Healthcare and structure a new program unique to their specific
requirements,” said Robert Joyce, senior vice president and division
head, U.S. Bank Healthcare. “We consulted closely with them on both
their immediate needs and longer term strategy to enable their continued
success.”
Molina Healthcare Inc. provides quality and cost-effective
Medicaid-related solutions to meet the health care needs of low-income
families and individuals and to assist state agencies in their
administration of the Medicaid program.
“We chose U.S. Bank to lead our credit facility as a result of our
excellent relationship and the specialized knowledge they brought to our
organization,” said John Molina, chief financial officer for Molina
Healthcare, Inc. “U.S. Bank’s consistent performance and solid
reputation offer us the stability we need to continue our growth.”
About U.S. Bank Healthcare Division
The U.S. Bank Healthcare
Division serves 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 www.usbank.com/healthcaredivision.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $340
billion in assets as of Dec. 31, 2011, is the parent company of U.S.
Bank, the fifth-largest commercial bank in the United States. The
company operates 3,085 banking offices in 25 states and 5,053 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 its 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 www.usbank.com.
Source: U.S. Bancorp
U.S. Bank Healthcare
Aimee LaCasse, 415-464-8526
aimee.lacasse@usbank.com
or
U.S.
Bank Public Relations
Nicole Garrison-Sprenger, 612-303-0731
nicole.sprenger@usbank.com
