Tenet Prices Private Offering Of Senior Notes

(RTTNews) - Tenet Healthcare Corp. (THC) said Friday that it has priced the private offering of senior secured notes maturing in 2020 and senior unsecured notes maturing in 2022.

A total of $1.8 billion aggregate principal amount of senior secured notes, which will bear interest at a rate of 6 percent per annum, will be issued. A total of $2.8 billion aggregate principal amount of senior unsecured notes, which will bear interest at a rate of 8 1/8 percent per annum, will be issued.

The proceeds from the offering will be used to finance in part Tenet's pending acquisition of Vanguard Health Systems, Inc., including the refinancing of certain of Vanguard's existing indebtedness.