Of that total, $500 million are in senior secured notes due in 2020 with a 4.75 percent interest rate, while $300 million are 6.75 percent senior notes also due in 2020.
Tenet officials said the proceeds from the action will be used to purchase its senior notes, which are due next year and have an interest rate of 7.375 percent, in a tender offer. Any leftover funds will go toward paying off other debt or acquiring hospitals and other healthcare facilities.
More Articles on For-Profit Hospital Notes:
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CHS Closes on $1.6B Debt Offering of Senior Notes
$640M of CHS’ Recent Debt Offering Tendered
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