Tenet Healthcare calls $1.1 billion portion of 4 5/8% first-lien notes due 2024

By Wendy Van Sickle

Columbus, Ohio, Aug. 11 – Tenet Healthcare Corp. called $1.1 billion of its outstanding $1.87 billion of 4 5/8% senior secured first-lien notes due July 15, 2024 for redemption on Sept. 10, according to a news release.

The redemption price will be 101.156 plus accrued interest.

The redemption will be funded by proceeds from the recent sale of the company’s five hospitals in Miami-Dade and Southern Broward Counties and is expected to lower the company’s annual cash interest payments by about $50 million.

Tenet is a Dallas-based health care company.

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