Tenet to Sell $4.6B in Notes to Fund Vanguard Deal

Dallas-based Tenet Healthcare Corp. is looking to sell $2.8 billion in senior unsecured notes and $1.8 billion in senior secured notes, which will help finance the chain's pending acquisition of Nashville, Tenn.-based Vanguard Health Systems.

In June, Tenet and Vanguard signed a definitive merger deal, worth roughly $4.3 billion. Roughly $2.5 billion of the acquisition is the assumption of Vanguard's debt.

The merger is one of the largest in the industry. If approved, Tenet would own at least 79 hospitals and 157 ambulatory surgery centers and outpatient centers.

More Articles on Hospital Finance:
Private Equity and Non-Profit Hospitals: Strange Bedfellows or Saving Grace?
Tenet Completes $850M Private Offering
CHS Completes Latest $1B Debt Offering

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