Tenet Healthcare announces $2 billion senior notes offering

Tenet Healthcare Corporation has announced the pricing of a $2.0 billion private placement offering of senior notes due on September 15, 2034. The notes will carry an annual interest rate of 6.250%.

The company increased the aggregate principal amount from an initial $1.5 billion to $2.0 billion. Tenet intends to use the net proceeds, alongside available cash, to refinance existing debt. This includes the full redemption of $1.5 billion in 5.125% senior secured first lien notes due in November 2027 and a partial redemption of $0.5 billion in 6.125% senior notes due in October 2028.

Completion of the notes offering is expected by September 22, 2026, subject to customary closing conditions. The notes will represent unsecured obligations of the company.