- To finance part its pending acquisition of Vanguard Health Systems (VHS +0.1%), Tenet Healthcare (THC -1.7%) is selling $2.8B of senior unsecured notes and $1.8B of senior secured notes through a private placement.
- The secured notes will be guaranteed by and secured by a pledge of the capital stock and other ownership interests of certain of Tenet's subsidiaries.
- In addition to financing the acquisition, some of the proceeds will also be used to refinance certain of Vanguard's existing indebtedness.
Tenet Health announces private offering to help fund its Vanguard Health purchase
Sep 6 2013, 14:30 ET