Share PostDallas-based Tenet Healthcare Corp. has completed its private offering of $500 million of its 4.75 percent senior secured notes, as well as $300 million of its 6.75 percent senior notes, both due in 2020.
The hospital operator plans to use the proceeds to purchase its 7.375 percent senior notes, due through a tender offer in 2013, and use remaining proceeds to buy other outstanding senior notes. Additionally, remaining proceeds will be put toward general corporate purposes, including the repayment of debt and acquisitions.
As of this past Monday, Tenet said $160.8 million of the outstanding notes had been validly tendered, and the tender offer expires on Oct. 29.