A Medical Device Daily
Tenet Healthcare (Dallas) said it has commenced an offer to exchange up to $1.6 billion aggregate principal amount of its outstanding notes maturing Dec. 1, 2011 and June 1, 2012 for an equal aggregate principal amount of two new series of senior secured notes maturing in 2014 and 2019. The new notes will be guaranteed by and secured by a pledge of the capital stock and other ownership interests of certain of Tenet's subsidiaries, the company said.
The new notes are being offered through a private placement, and have not been registered under the Securities Act of 1933, or any state securities laws.
Tenet owns and operates acute care hospitals and provides related healthcare services.