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HCA to price $1 billion 10.5-year bullet in Tuesday drive-by; initial guidance mid 3% area
By Paul A. Harris
Portland, Ore., Feb. 11 – HCA Healthcare, Inc. plans to price a $1 billion public offering of 10.5-year senior bullet notes (existing ratings Ba2/BB-) in a Tuesday drive-by, according to market sources.
Initial talk has the deal coming to yield in the mid 3% area, a bond trader said.
J.P. Morgan Securities LLC, Barclays, BofA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, SMBC Nikko Securities America Inc., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.
The issuing entity will be HCA Inc., a wholly owned subsidiary of HCA Healthcare.
The Nashville, Tenn.-based for-profit operator of health care facilities plans to use the proceeds to redeem all $1 billion outstanding HCA Healthcare 6¼% senior notes due 2021 and for general corporate purposes.
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