Triad Hospitals tenders for 8¾% notes

New York, April 20 - Triad Hospitals Inc. said it has begun a cash tender offer for any and all its $600 million principal amount of 8¾% senior notes due 2009.

The Plano, Texas, hospital operator is also soliciting consents to amend the note indenture. Among other things, the amendments will eliminate most of the principal restrictive covenants and certain other provisions.

Holders who tender by the consent deadline of 5 p.m. ET on April 28 will receive $1,106.99 per $1,000 principal amount including a consent payment of $30.00 per $1,000 principal amount.

Holders who tender after the consent deadline but before the expiration date of 11:59 p.m. ET on May 17 will receive $1,076.99 per $1,000 principal amount.

In both cases Triad will pay accrued interest.

Holders who tender are required to deliver consents, and consents may not be given without tendering.

The indenture amendments require the consent of holders of at least a majority of the principal amount of the notes outstanding.

The tender is subject to a minimum tender condition, the necessary consents and the completion of one or more off-the-shelf offerings of senior notes and/or senior subordinated notes totaling at least $650 million.

Citigroup Global Markets Inc. (800 558-3745 or collect at 212 723-6106) and Merrill Lynch, Pierce, Fenner & Smith Inc. (888 ML4-TNDR or collect at 212 449-4914) are dealer managers and solicitation agents. Georgeson Shareholder Communications Inc. (888 549-6627 or collect at 212 440-9800) is the information agent.

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