THC - Tenet prices upsized $2B debt offering to redeem $1.748B of 6.750% senior notes due 2023

Tenet Healthcare Corporation (NYSE:THC) has priced upsized private placement offering of $2B (from $1.8B) senior secured first lien notes due on June 15, 2030, which will bear interest at a rate of 6.125% per annum. Offering is expected to close on June 15, 2022. Proceeds will be used to finance the redemption of all $1.748B outstanding 6.750% senior notes due 2023 and for general corporate purposes. In a separate release, the company has called for redemption of $1.748B of 6.750% senior notes due June 15, 2023. The notes will be redeemed on July 1, 2022 at a redemption price equal to 100% of the principal amount.

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Tenet prices upsized $2B debt offering to redeem $1.748B of 6.750% senior notes due 2023