HCA struck the deal with Bank of America and Wells Fargo Bank. Under the deal, the hospital operator can take out term loans in two draws before next March. HCA has not withdrawn money yet.
HCA leaders said the deal is helping the company build in “financial flexibility in light of the uncertainty resulting from the novel coronavirus pandemic.”
In addition, HCA is pausing plans on construction projects and will halt buybacks of HCA shares.
Last year, HCA spent more than $1 billion on share buybacks.
Read the full report here.
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