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Tenet Announces Completion of Its Private Offering of 4.50% Senior Secured Notes due 2021 and Early Results of Its Tender Offer

  Tenet Announces Completion of Its Private Offering of 4.50% Senior Secured
  Notes due 2021 and Early Results of Its Tender Offer and Related Consent
  Solicitation

Business Wire

DALLAS -- February 5, 2013

Tenet Healthcare Corporation (NYSE: THC) announced today the successful
completion of its previously announced private offering of $850 million
aggregate principal amount of its 4.50% Senior Secured Notes due 2021.

The proceeds from the offering will be used to purchase Tenet’s 10.0% Senior
Secured Notes due 2018 (the “Notes”) in a tender offer. Tenet will use any
remaining net proceeds for purchases of its other outstanding senior secured
notes through public or privately negotiated transactions, and for general
corporate purposes, including the repayment of indebtedness and drawings under
its senior secured revolving credit facility and strategic acquisitions. In
connection with the tender offer, Tenet is also soliciting consents for
certain amendments to the related indenture governing the Notes. The terms of
the tender offer and the consent solicitation are contained in an offer to
purchase and consent solicitation statement dated January 22, 2013 and a
related consent and letter of transmittal. The tender offer will expire at
12:00 midnight, New York City time, on February 19, 2013.

As of the consent payment deadline of 5:00 p.m., New York City time, on
February 4, 2013, approximately $644.5 million aggregate principal amount of
the outstanding Notes had been validly tendered and not validly withdrawn.

Holders that validly tendered prior to the consent payment deadline and whose
Notes were accepted will receive total consideration of $1,164.50 per $1,000
principal amount of purchased Notes, which includes a consent payment of
$30.00 per $1,000 principal amount of Notes, plus accrued and unpaid interest
up to, but not including, the initial settlement date of February 5, 2013.

Holders that validly tender after the consent payment deadline, but prior to
the expiration of the tender offer, and whose Notes are accepted will receive
the tender offer consideration of $1,134.50 per $1,000 principal amount of
Notes, plus accrued and unpaid interest up to, but not including, the final
settlement date, which is expected to be February 20, 2013. Holders of the
Notes that tender after the consent payment deadline will not receive a
consent payment. As the withdrawal time of 5:00 p.m., New York City time, on
February 4, 2013 has passed, any tendered Notes may not be withdrawn except as
required by law.

This news release is neither an offer to purchase nor a solicitation of an
offer to sell any notes. The tender offer is being made only pursuant to the
offer to purchase and consent solicitation statement and the related consent
and letter of transmittal, copies of which have been delivered to all holders
of the Notes. Persons with questions regarding the tender offer should contact
the dealer managers — BofA Merrill Lynch at (888) 292-0070 (toll free) or
(980) 387-3907 (collect), Barclays Capital Inc. at (800) 438-3242 (toll free)
or (212) 528-7581 (collect), Citigroup at (800) 558-3745 (toll free) or Wells
Fargo Securities at (866) 309-6316 (toll free) or (704) 410-4760 (collect) —
or the Information Agent, Global Bondholder Services Corporation, at (866)
540-1500 (toll free) or (212) 430-3774 (collect).

Tenet Healthcare Corporation, a leading health care services company, through
its subsidiaries operates 49 hospitals, over 100 free-standing outpatient
centers and Conifer Health Solutions, a leader in business process solutions
for health care providers serving more than 500 hospital and health care
entities nationwide. Tenet’s hospitals and related health care facilities are
committed to providing high quality care to patients in the communities they
serve.

Some of the statements in this release may constitute forward-looking
statements. Such statements are based on our current expectations and could be
affected by numerous factors and are subject to various risks and
uncertainties discussed in our filings with the Securities and Exchange
Commission, including our annual report on Form 10-K for the year ended Dec.
31, 2011, our quarterly reports on Form 10-Q and periodic reports on Form 8-K.
Do not rely on any forward-looking statement, as we cannot predict or control
many of the factors that ultimately may affect our ability to achieve the
results estimated. We make no promise to update any forward-looking statement,
whether as a result of changes in underlying factors, new information, future
events or otherwise.

Contact:

Tenet Healthcare Corporation
Media:
Rick Black, 469-893-2647
Rick.Black@tenethealth.com
or
Investors:
Thomas Rice, 469-893-2522
Thomas.Rice@tenethealth.com
 
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