HCA preps $5B debt sale: 4 things to know

Nashville, Tenn.-based HCA Healthcare is selling $5 billion worth of senior secured notes, which will be available to investors on June 12.

Four things to know:

1. HCA said in a Securities and Exchange Commission filing that it expects net proceeds from the offering of $4.91 billion.

2. The company said the proceeds will be used for general corporate purposes and to refinance existing debt coming due over the next few years.

3. HCA said $2 billion of the senior secured notes will mature in 2029, $1 billion will mature in 2039 and the remaining $2 billion will mature in 2049.

4. Moody's Investors Service assigned a "Baa3" rating to HCA's new senior secured notes. "Moody's expects this transaction to reduce interest expense and extend the company's maturity profile," the credit rating agency said in a June 5 press release.

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