HCA is­sues $1.4 bil­lion in se­nior se­cured notes

Modern Healthcare - - Late News -

HCA, Nashville, said in a se­cu­ri­ties fil­ing that it is­sued $1.4 bil­lion in 10½-year, se­nior se­cured notes, or 40% more than the $1 bil­lion in notes it ini­tially pro­posed to sell when it an­nounced the is­sue ear­lier this month (March 8, p. 12). The bonds carry in­ter­est of 7.25%, payable in cash semi­an­nu­ally. As pre­vi­ously re­ported, the pro­ceeds will be used to pay down three term loans that will come due in 2012 and 2013, so the is­sue does not add to the com­pany’s debt. In Jan­uary, HCA an­nounced a $1.75 bil­lion dis­tri­bu­tion to share­hold­ers that will, in part, rely on new bor­row­ing un­der the com­pany’s credit fa­cil­i­ties, adding to the debt of $25.67 bil­lion that HCA recorded on its bal­ance sheet as of Dec. 31, 2009.

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