DaVita Inc. said Tuesday it priced an offering of two sets of senior notes totaling around $1.6 billion.
The company priced $775 million principal amount of 6.375 percent senior notes due 2018 and $775 million principal amount of 6.625 percent senior notes due 2020.
The offering is expected to close on Oct. 20.
DaVita intends to use the net proceeds from the offering to help it buy or redeem outstanding 6.625 percent senior notes due 2013 and 7.250 senior subordinated notes due 2015.
Banc of America Securities LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Goldman, Sachs & Co. and Wells Fargo Securities, LLC are joint book-running managers for the offering.
DaVita shares added 97 cents to $69.21 on Tuesday.