Tenet completes offer of $750M in notes

Dallas-based Tenet Healthcare has completed its previously announced offering of $750 million in senior secured lien notes.

Advertisement

The for-profit hospital operator will use about $500 million of the proceeds to pay down outstanding balances on its asset based lending facility. The loan was drawn in the fourth quarter of 2016 to fund litigation settlements, according to Fitch Ratings.

Tenet said the notes mature in 2022 and carry an interest rate of 7.5 percent.

More articles on healthcare finance:

Envision Healthcare joins S&P 500 post merger
6 Massachusetts health networks test ACO pilot program for Medicaid
Oregon health system to close women’s clinic over staffing issues

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.