Simpson Thacher Represents HCA in $3.5 Billion High Yield Debt Offering and Revolving Credit Facilities Refinancing
03.12.14
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Simpson Thacher recently represented HCA Inc. in its high yield offering of $1.5 billion aggregate principal amount of 3.75% Senior Secured Notes due 2019 and $2.0 billion aggregate principal amount of 5.00% Senior Secured Notes due 2024. HCA intends to use the net proceeds for the repayment and redemption of certain series of its existing secured and unsecured notes and for general corporate purposes.
The firm also represented HCA in refinancing its existing $2.0 billion cash flow revolving credit facility and its existing $2.5 billion asset-based revolving credit facility in order to, among other things, extend the maturity dates for each facility to 2019.
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, Tony Rim and Erika Tang (Capital Markets); James Cross, Brian Gluck, Chad Pearlman and Wabi Jain (Banking and Credit); Jonathan Cantor and Andrew Purcell (Tax); Krista McManus (Real Estate); and Alina Finkelshteyn (Executive Compensation and Employee Benefits).