HCA pricing $1 billion bullet deal Monday to fund special dividend

By Paul A. Harris

Portland, Ore., Dec. 3 - HCA Holdings, Inc. plans to price a $1 billion issue of non-callable senior notes due Feb. 15, 2021 (expected ratings B3/B-) on Monday, according to a syndicate source.

Citigroup Global Markets Inc. is the left bookrunner.

Bank of America Merrill Lynch, Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The notes, which have been registered with the Securities and Exchange Commission, come with a make-whole call at Treasuries plus 50 basis points and feature a 101% poison put.

The Nashville-based health care company plans to use the proceeds to fund a $2 per share special cash dividend to shareholders and options holders, which was also announced on Monday.

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