Tenet completes tender offer for senior notes

Tue, 08/31/2010 - 1:45pm
The Associated Press

Tenet Healthcare Corp. said Tuesday it completed a tender offer to buy a portion of its outstanding 7.375 percent senior notes due 2013.

The hospital operator said it received tenders from the holders of about 78 percent or about $781.5 million of the notes before the offer's early expiration date on Aug. 16. It received tenders of another $166,000 of the notes after Aug. 16 but before Monday's midnight expiration time.

Holders who tendered their notes before the early expiration will be eligible to receive $1,055 per $1,000 of the notes. The rest will be able to get $1,025 per $1,000 of the notes.

Tenet will pay $829.4 million for the notes and interest.

Shares fell 8 cents to close at $3.92.


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