trending Market Intelligence /marketintelligence/en/news-insights/trending/tJUOto7xLH300RaEmrXopg2 content esgSubNav
In This List

Tenet prices offering of $4.2B senior notes to refinance outstanding debt

Case Study

Identifying PPE Suppliers During the Pandemic

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective


Tenet prices offering of $4.2B senior notes to refinance outstanding debt

Tenet Healthcare Corp. priced a private offering of $4.2 billion in newly issued notes.

The offering includes $600 million in 4.625% senior secured notes due Sept. 1, 2024; $2.1 billion 4.875% senior secured notes due Jan. 1, 2026; and $1.5 billion 5.125% senior secured notes due Nov. 1, 2027.

Dallas-based Tenet plans to use proceeds, along with cash on hand and borrowings under its senior secured revolving credit facility, to fund the redemption and discharge of $4.2 billion of its currently outstanding notes.

Following the offering, the healthcare services company intends to amend its existing revolving credit facility to increase borrowing capacity for up to $1.5 billion from $1 billion and extend the maturity date, among others.

The offering's completion is subject to customary closing conditions.