HCA to offer $500 million in notes

Tue, 09/27/2011 - 11:45am
The Associated Press

HCA Holdings Inc. said Tuesday that its main subsidiary plans to launch a debt offering to raise funds that may be used to pay for the hospital chain's acquisition of the remaining ownership interest in its HCA-HealthONE LLC joint venture.

In June, HCA Inc. agreed to pay $1.45 billion to gain full control of the joint venture that runs hospitals and surgery centers in the Denver metropolitan area. The Colorado Health Foundation currently owns that 40 percent stake in the joint venture, which was formed in 1995.

HCA Inc. is planning to offer $500 million in senior unsecured notes. The interest rate, principal amount and other terms of the notes will be determined when the company prices the offering, HCA said.

Barclays Capital, Deutsche Bank Securities, Goldman, Sachs & Co., Morgan Stanley, RBC Capital Markets and Wells Fargo Securities are the joint book-running managers for the offering.

HCA shares added 33 cents to $20.18 in afternoon trading.


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