Tenet said it will use proceeds from the sale to redeem outstanding senior notes due in 2022. Completion of the debt offering is subject to pricing and standard closing and market conditions.
Fitch assigned a “B”/”RR4” rating to the senior notes, the same ratings as Tenet’s existing senior unsecured notes.
The for-profit hospital operator’s shares traded as high as $28.84 on Aug. 31 and closed at $28.18.
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