Tenet to redeem $3.04 billion notes July 14, $500 million notes Aug. 1

By Angela McDaniels

Tacoma, Wash., June 19 – Tenet Healthcare Corp. will redeem its $900 million of floating-rate senior secured notes due 2020 in full and $500 million of 8% senior notes due 2020, $1.1 billion of 5% senior notes due 2019 and $1,041,000,000 of 6¼% senior notes due 2018, according to an 8-K filing with the Securities and Exchange Commission.

The floating-rate notes, the 5% notes and the 6¼% notes will be redeemed on July 14, and the 8% notes will be redeemed on Aug. 1.

The company will fund the redemptions with the proceeds of $1.87 billion of 4 5/8% senior secured first-lien notes due 2024, $1.41 billion of 5 1/8% senior secured second-lien notes due 2025 and $500 million of 7% senior notes due 2025.

Tenet is a Dallas-based owner and operator of acute care hospitals, ambulatory surgery centers, diagnostic imaging centers and related health care facilities.

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