Tenet Healthcare Corp., Dallas, said it is expanding the bond offering that it announced last week to $900 million, according to a news release (PDF).
Tenet expands bond offering to $900 million
When the offering was first announced last week, Tenet said it intended to sell $750 million in a private offering. The bonds, due in 2018, will carry an interest rate of 6.25%. The company plans to use the proceeds of the offering to repay notes carrying a 9% interest rate that are due in 2015, while any remaining proceeds would be used to pay down other debt or for general corporate purposes, according to the release.
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