Simpson Thacher recently represented HCA Inc. in its high yield offering of $500 million of 8.00% Senior Notes due 2018. HCA intends to use the net proceeds for general corporate purposes, which may include funding a portion of the acquisition of the remaining ownership interest in HCA’s HCA-HealthONE LLC joint venture currently owned by the Colorado Health Foundation.
In addition, Simpson Thacher represented HCA Inc. in entering into a new $2.5 billion senior secured asset-based revolving credit facility, the proceeds of which were used to refinance its existing asset-based revolving credit facility. The new revolving credit facility, among other things, increased the size of the facility and extended the maturity of the revolving credit loans.
HCA is the largest non-governmental hospital provider in the United States and a leading comprehensive, integrated provider of health care and related services.
The Simpson Thacher teams for these transactions included: Joseph Kaufman, Xavier Kowalski and Jocelyn Campanaro (Capital Markets); James Cross, Brian Gluck, Makiko Harunari, Andrea Sung and Rodrigo Surcan dos Santos (Banking and Credit); and Jonathan Cantor and Andrew Purcell (Tax).