In separate moves, Community Health Systems, Franklin, Tenn., and Tenet Healthcare Corp., Dallas, completed tender offers related to debt refinancing.
CHS, Tenet complete tender offers
Community Health purchased the maximum amount it offered—$1 billion of its $2.8 billion in aggregate principal of senior notes with a coupon of 8.875% due 2015, according to a news release. In November, Community announced it had completed a previously announced sale of $1 billion in 8% notes due in 2019 to fund the tender offer.
Similarly, Tenet announced it had bought $713 million of the $714 million outstanding of 9% senior secured notes due 2015, a purchase funded with the remaining net proceeds from a private offering of $900 million of 6.25% senior secured notes due 2018.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.