Tenet Healthcare announced the pricing of a previously announced private placement offering and has agreed to issue and sell $2 billion in aggregate principal amount of senior secured first lien notes due on June 15, 2030, which will bear interest at 6.125% annually.
The aggregate principal amount of notes to be issued in the offering was increased to $2 billion from the previously announced $1.8 billion, StreetInsider reports. Completion of the notes offering is expected to occur June 15.
Tenet intends to use the net proceeds from the sale of the notes, after payment of fees and expenses, to finance the redemption of all $1.748 billion outstanding of its 6.750% senior notes due 2023 and for general corporate purposes. Read more.
