Simpson Thacher recently represented HCA Inc. in connection with its issuance of $1.5 billion aggregate principal amount of 5.5% Senior Secured Notes due 2047. HCA intends to use the net proceeds for general corporate purposes, which may include funding all or a portion of the purchase price of previously announced hospital acquisitions, and the redemption of its existing 8% Senior Notes due 2018.
Simpson Thacher also represented HCA Inc. in connection with the amendment and restatement of its existing cash-flow revolving credit facility, which, among other things, extended the maturity date to June 28, 2022 and its existing asset-based revolving credit facility, which, among other things, extended the maturity date to June 28, 2022 and increased the commitments thereunder from $3.25 billion to $3.75 billion.
HCA is the largest non-governmental hospital operator in the U.S. and a leading comprehensive, integrated provider of healthcare and related services.
The Simpson Thacher team included Joe Kaufman, Tony Rim and Taylor Steele (Capital Markets); Brian Gluck, Nelli Zaltsman and Christine Turner (Credit); Eric Wolf and Chris Scavone (Executive Compensation and Employee Benefits); Jonathan Cantor and Andrew Purcell (Tax); and Janet Nadile and Jonathan Pall (Collateral). Summer Associate Demetrius Baefsky also provided much appreciated assistance.