Tenet Healthcare tenders for up to $1 billion of 9 7/8% notes due 2014

By Susanna Moon

Chicago, May 29 - Tenet Healthcare Corp. said it began a tender offer to purchase up to $1 billion of its outstanding 9 7/8% senior notes due 2014.

The offer will expire at midnight ET on June 25.

Tenet said it will pay par plus accrued interest for each $1,000 principal amount of the notes, including a premium of $30 for notes tendered by 5 p.m. ET on June 11, which is the early tender date.

The tender offer is subject to a $200 million minimum tender condition and completion of a new senior secured notes offering of at least $200 million.

If the tendered amount exceeds the limit, notes purchased will be prorated.

Banc of America Securities LLC (888 292-0070 or collect 646 855-3322), Goldman, Sachs & Co. (800 828-3182 or collect 212 357-4692) and Citi (800 558-3745) are the dealer managers.

Global Bondholder Services Corp. (866 924-2200 or collect 212 430-3774) is the information agent.

Dallas-based Tenet Healthcare owns and operates acute-care hospitals and provides related health-care services.

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