Tenet Healthcare closes offering of $800M in notes
DALLAS -- Tenet Healthcare Corp. said Tuesday that it completed its private offering of $500 million of its 4.75 percent senior secured notes due 2020 and $300 million of its 6.75 percent senior notes due 2020.
The Dallas-based hospital operator plans to use the proceeds to buy its 7.375 percent senior notes due 2013 through a tender offer. Any remaining proceeds will be used to buy other outstanding senior notes and for general corporate purposes, including the repayment of debt and acquisitions, the company said.
The tender offer expires on Oct. 29. As of Monday, $160.8 million of the outstanding notes had been validly tendered, Tenet said.
Tenet shares fell 5 cents to $24.13 in afternoon trading.