Simpson Thacher represented HCA Inc. in an issuance of $310 million of 9?% Senior Secured Notes due 2017 that closed on February 19, 2009. The notes are second lien notes and rank equally with the $5.7 billion of high yield notes issued in the leveraged buyout of HCA in 2006. HCA will use the proceeds of the offering to repay existing indebtedness.
HCA is one of the leading health care services companies in the United States and operates 166 hospitals in 20 states and in England. The company is owned by affiliates of Bain Capital Partners, KKR and Merrill Lynch Global Private Equity, now a subsidiary of Bank of America Corporation.
The Simpson Thacher team included Richard Fenyes, John Ericson, Ellen Smiley, Joe Sensenbrenner, Will Golden and Jeremy Barr and paralegals Rebecca Seif and Tiffany Vacca (Capital Markets); Matt O’Shea, Jason Hwang and Jason Amster (Credit); Jennifer Klein (Tax); Paula Han (Executive Compensation & Employee Benefits); Mike Isby and Tim Mulvihill (Environment); and Ignacio de la Huerta (IP).