Tenet plans new $800 million revolver

By Sara Rosenberg

New York, Sept. 27 - Tenet Healthcare Corp. has received a commitment for a new $800 million five-year senior secured revolving credit facility, according to a company news release. Citigroup and Bank of America are the lead banks on the deal.

Security is patient accounts receivable at the company's acute care and specialty hospitals.

Proceeds will be used to provide adequate liquidity to meet anticipated future operating needs.

An additional $200 million also would be available under the new credit facility, depending on the amount of eligible receivables outstanding, the release said.

The company expects to complete the new credit facility by late October.

Tenet is a Dallas-based owner and operator of acute care hospitals and related health care services.

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