HCA guides $1 billion 10-year secured bullet offering in 5 3/8% area; pricing Tuesday

By Paul A. Harris

Portland, Ore., March 1 – HCA Inc. is guiding a $1 billion offering of 10-year senior secured notes (//BB+) with initial yield talk in the 5 3/8% area, according to a trader.

The deal is set to price Tuesday.

BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, SunTrust Robinson Humphrey Inc., UBS Investment Bank and Wells Fargo Securities LLC are the joint bookrunners for the public offering.

Credit Agricole CIB, Mizuho Securities, Fifth Third Securities and SMBC Nikko are the co-managers.

The notes feature a make-whole call at Treasuries plus 50 basis points until six months prior to maturity, then become callable at par. They are otherwise non-callable.

HCA Inc. is a wholly owned subsidiary of HCA Holdings, Inc., a Nashville, Tenn.-based for-profit operator of health care facilities.

Proceeds will be used for general corporate purposes.

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