Simpson Thacher Represents HCA in $2.5 Billion High Yield Debt Offering and $2.0 Billion Revolving Credit Facility Refinancing
10.23.12
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Simpson Thacher recently represented HCA Inc. in its high yield offering of $1.25 billion aggregate principal amount of 4.75% Senior Secured Notes due 2023 and $1.25 billion aggregate principal amount of 5.875% Senior Notes due 2023. HCA intends to use the net proceeds for general corporate purposes, which may include the repayment of a portion of its existing term loan B-1 facility due November 2013 and the financing of a dividend to stockholders of HCA Holdings, Inc.
The firm also represented HCA in refinancing its existing $2.0 billion revolving credit facility in order to extend the maturity date of the revolving credit facility to November 17, 2016.
HCA is the largest non-governmental hospital operator in the U.S. and a leading comprehensive, integrated provider of health care and related services.
The Simpson Thacher team for this transaction included: Joseph Kaufman, Katerina Kousoula and Linda Tieh (Capital Markets); James Cross, Brian Gluck, Chad Pearlman and Andrew Des Rault (Banking and Credit); Jonathan Cantor and Andrew Purcell (Tax); Krista McManus (Real Estate); Timothy Mulvihill (Environmental); and Samantha Shipp (Executive Compensation and Employee Benefits).