Tenet buys back $5 million more of its 6 3/8%, 9¼% notes in quarter

By Susanna Moon

Chicago, Feb. 23 - Tenet Healthcare Corp. repurchased $5 million more of its 6 3/8% senior notes due 2011 and 9¼% senior notes due 2015 in the three months ended Dec. 31, according to a 10-K filing with the Securities and Exchange Commission.

Tenet said it completed open-market repurchases of $2 million principal amount outstanding of its 6 3/8% notes and $1 million principal amount outstanding of its 9¼% notes for cash of about $3 million in December.

The company bought back $2 million principal amount outstanding of its 9¼% notes in the open market for cash of about $2 million in November. It also purchased $8 million of the notes for about $8 million in cash in September.

Tenet said on Sept. 25 that it bought back $300 million of its 9¼% notes using some proceeds from a $345 million sale of mandatory convertible preferred stock.

The Dallas-based hospital chain said it used $315 million of the net proceeds to repurchase the notes through a privately negotiated transaction.

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