Tenet Announces Pricing of Its Private Offering of Senior Secured Notes due 2019

Tenet Healthcare Corporation announced today the pricing of its previously announced private offering of senior secured notes maturing in 2019. A total of $925 million aggregate principal amount of notes, which will bear interest at a rate of 8.875% per annum, will be issued. The notes will rank pari passu with Tenet’s 9% senior secured notes due 2015 and 10% senior secured notes due 2018, which were issued in March 2009, and similarly will be guaranteed by and secured by a pledge of the capital stock and other ownership interests of certain of Tenet’s subsidiaries. The proceeds from the offering will be used to purchase Tenet’s 9.875% senior notes due 2014 in a tender offer. The 8.875% senior secured notes have not been registered under the Securities Act of 1933 or any state securities laws. As a result, they may not be offered or sold in the United States or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the notes are being offered only to “qualified institutional buyers” under Rule 144A of the Securities Act or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. A confidential offering memorandum, dated today, has been made available to such eligible holders. The offering is being conducted in accordance with the terms and subject to the conditions set forth in the offering memorandum.


Contact:

Tenet Healthcare Corporation
Media:
David Matthews, 469-893-2640
David.Matthews@tenethealth.com
or
Investors:
Thomas Rice, 469-893-2522
Thomas.Rice@tenethealth.com
www.tenethealth.com

source: yahoo