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HCA Holdings Raises $2.5 Billion in Second Bond Sale This Year

HCA Holdings Inc., the biggest U.S. for-profit hospital operator, increased an offering of bonds by 25 percent to $2.5 billion in its second sale this year.

The company issued $1.25 billion each of 4.75 percent senior secured notes to yield 304 basis points more than similar-maturity Treasuries and 5.875 percent, senior unsecured debt at a relative yield of 417 basis points, according to a person familiar with the transaction, who asked not to be identified citing lack of authorization to speak publicly. The bonds mature in May 2023.

Proceeds will be used to repay HCA’s B-1 term loan maturing in November 2013 and to pay a stockholder dividend, the company said in a filing today. The company initially marketed $2 billion of bonds.

HCA last sold debt in February, issuing $1.35 billion of 5.875 percent, 10-year secured debentures to yield 392 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg.

Moody’s Investors Service rates the senior secured debt Ba3 and the senior unsecured bonds B3, the ratings company said today.

Bank of America Corp., Barclays Plc, Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., and Wells Fargo & Co. managed the sale, the Nashville, Tennessee-based company said in a statement today.

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