|[March 05, 2014]
Tenet Announces Pricing of Private Offering of Senior Notes
DALLAS --(Business Wire)--
Tenet Healthcare Corporation (NYSE: THC) established today the pricing
of the previously announced private offering of senior notes maturing in
2019 (the "notes"). A total of $600 million aggregate principal amount
of notes, which will bear interest at a rate of 5.00% per annum, will be
The notes will be Tenet's general unsecured senior obligations and will
be subordinated to all of Tenet's existing and future senior secured
obligations to the extent of the value of the collateral securing
Tenet's senior secured obligations, and will be structurally
subordinated to all obligations and liabilities of Tenet's subsidiaries.
The proceeds from the offering will be used for general corporate
purposes, including the repayment of indebtedness and drawings under
Tenet's senior secured revolving credit facility and related transaction
fees and expenses.
The notes being offered have not been registered under the Securities
Act of 1933, as amended (the "Securities Act"), or any state securities
laws. As a result, they may not be offered or sold in the United States
or to any U.S. persons, except pursuant to an applicable exemption from,
or in a transaction not subject to, the registration requirements of the
Securities Act. Accordingly, the notes are being offered only to
"qualifiedinstitutional buyers" under Rule 144A of the Securities Act
or, outside the United States, to persons other than "U.S. persons" in
compliance with Regulation S under the Securities Act.
This news release is neither an offer to sell nor a solicitation of an
offer to buy, nor shall there be any sale of, these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
Tenet Healthcare Corporation, a leading health care services company,
through its subsidiaries operates 77 hospitals, 187 outpatient centers
and Conifer Health Solutions, a leader in business process solutions for
health care providers serving more than 700 hospital and other clients
nationwide. Tenet's hospitals and related health care facilities are
committed to providing high quality care to patients in the communities
they serve. For more information, please visit www.tenethealth.com.
This release contains "forward-looking statements" - that is, statements
that relate to future, not past, events. In this context,
forward-looking statements often address our expected future business
and financial performance and financial condition, and often contain
words such as "expect," "anticipate," "intend," "plan," "believe,"
"seek," "see," or "will." Forward-looking statements by their nature
address matters that are, to different degrees, uncertain. Particular
uncertainties that could cause our actual results to be materially
different than those expressed in our forward-looking statements
include, but are not limited to, the factors disclosed under
"Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the
year ended December 31, 2013, and in our quarterly reports on Form 10-Q,
periodic reports on Form 8-K and other filings with the Securities and
Exchange Commission. The information contained in this release is as of
the date hereof. The Company assumes no obligation to update
forward-looking statements contained in this release as a result of new
information or future events or developments.
Tenet uses its company website to provide important information to
investors about the company including the posting of important
announcements regarding financial performance and corporate developments.
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