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New Issue-Tenet Healthcare sells $925 mln in notes

Mon Jun 1, 2009 5:53pm EDT

Stocks

    
  June 1 (Reuters) - Hospital operator Tenet Healthcare Corp
(THC.N) on Monday sold $925 million of 10-year senior secured
notes in the 144a private placement market, said IFR, a Thomson
Reuters service.
  The size of the deal was increased from an originally
planned $450 million.
  Bank of America, Goldman Sachs, and Citigroup were the
joint bookrunning managers for the sale.
BORROWER: TENET HEALTHCARE INC
AMT $925 MLN       COUPON 8.875 PCT    MATURITY 7/1/2019  
TYPE SR SECD NTS   ISS PRICE 95.229    FIRST PAY 1/1/2010 
MOODY'S B1         YIELD 9.625 PCT     SETTLEMENT 6/15/2009
S&P BB-MINUS       SPREAD 594 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A           MORE THAN TREAS    NON-CALLABLE 5 YEARS*
*MAKE-WHOLE CALL 50 BPS
 35 PCT EQUITY CLAW AT 108.875 UNTIL 7/1/2012



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