Tenet Healthcare calls $700 million 7½% notes due 2025

By Rebecca Melvin

Concord, N.H., Feb. 9 – Tenet Healthcare Corp. called all $700 million of the 7½% senior secured first lien notes due April 1, 2025, according to a news release.

The Feb. 8 redemption is expected to occur using cash on hand on Feb. 23.

The purchase price is equal to par plus a make-whole premium together with accrued interest to but excluding the redemption date.

The redemption price is expected to be about $730 million with anticipated lower future cash interest payments of about $53 million.

Tenet is a Dallas-based health care company.

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