HCA plans to sell $1 billion 10-year bullet in Thursday drive-by; initial talk low 6% area

By Paul A. Harris

Portland, Ore., Jan. 17 – HCA Inc. plans to price $1 billion of 10-year senior bullet notes (existing senior unsecured ratings Ba2/BB-) in a quick-to-market Thursday trade, market sources say.

Initial price talk is in the low 6% area.

UBS Investment Bank is the left bookrunner for the public offering. BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, SMBC Nikko Securities America Inc., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.

Mizuho Securities USA Inc. and Capital One Securities Inc. are the senior co-managers. Fifth Third Bank, Scotia Capital, MUFG and Regions Bank are the co-managers.

The notes are non-callable and feature a 101% poison put.

The Nashville, Tenn.-based for-profit operator of health care facilities plans to use the proceeds for general corporate purposes, which may include acquisitions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.