This week, HCA announced the share repurchase, which affected Bain Capital Partners and Kohlberg Kravis Roberts & Co. Bain Capital and KKR also said they will sell 30 million shares of their common stock in HCA, which will net the two private equity firms roughly $1.42 billion.
HCA said it plans to fund the share repurchase by drawing on its bank credit. The share repurchase is not expected to significantly alter HCA’s debt-to-EBITDA ratio, Fitch analysts said. HCA currently has a “B+” default rating with a positive rating outlook.
As a result of the share repurchase and offering, Bain Capital and KKR’s ownership of HCA will drop from 38 percent to roughly 28 percent.
More Articles on HCA:
KKR, Bain Capital to Sell $1.4B of HCA Shares
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