West Penn Allegheny bondholders to hear details of deal
The trustee for investors who own about $726 million in West Penn Allegheny Health System bonds will hold a conference call on Thursday morning to discuss a tentative deal to keep the health system out of bankruptcy court.
Trustee UMB Bank, of Kansas City, Mo., on Tuesday said the private call would also cover “disclosure of information expected to be made by the (West Penn Allegheny) tomorrow.”
Health insurer Highmark Inc. and West Penn Allegheny have been negotiating with bondholders on a deal to reduce the bond debt.
West Penn Allegheny spokeswoman Kelly Sorice said there was no announcement planned for Wednesday.
Highmark spokesman Aaron Billger could not be reached for comment.
Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or firstname.lastname@example.org.
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