Tenet gets tenders for $160.79 million 7 3/8% notes by early deadline

By Toni Weeks

San Diego, Oct. 16 - Tenet Healthcare Corp. said it received tenders for $160,791,000 of its $216 million of 7 3/8% senior notes due 2013 by 5 p.m. ET on Oct. 15, the early tender deadline for the company's tender offer for any or all of the notes. The tender offer began Oct. 1.

The purchase price will be $1,019.67 per $1,000 principal amount, which includes an early tender premium of $30.00 per $1,000 principal amount of notes for notes tendered by the early deadline. Tenet will also pay accrued interest up to but not including the initial settlement date of Oct. 16.

Notes may no longer be withdrawn.

The tender offer will expire at midnight ET on Oct. 29, with final settlement to occur Oct. 30.

Tenet also said it closed is private offering of $500 million of 4¾% senior secured notes due 2020 and $300 million of 6¾% senior notes due 2020, the proceeds of which will be used to fund the tender offer, to repurchase the company's other outstanding senior notes through public or privately negotiated transactions and for general corporate purposes, including debt repayment and acquisitions.

Barclays (800 438-3242 or 212 528-7581), Bank of America Merrill Lynch (888 292-0070 or 980 387-3907), Citigroup (800 558-3745) and Wells Fargo Securities (866 309-6316 or 704 715-8341) are the dealer managers. Global Bondholder Services Corp. (866 540-1500 or 212-430-3774) is the information agent.

The health care services company is based in Dallas.

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