By Paul A. Harris
Portland, Ore., Dec. 3 - HCA Holdings, Inc. priced a $1 billion issue of non-callable senior notes due Feb. 15, 2021 (B3/B-/) at par to yield 6¼% on Monday, according to a syndicate source.
The yield printed at the tight end of yield talk set in the 6 3/8% area.
Citigroup Global Markets Inc. was the left bookrunner for the quick-to-market deal.
Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Bank of America Merrill Lynch, Barclays, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. were the joint bookrunners.
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.
| Issuer: | HCA Holdings, Inc.
|
| Amount: | $1 billion
|
| Maturity: | Feb. 15, 2021
|
| Securities: | Senior notes
|
| Left bookrunner: | Citigroup Global Markets Inc.
|
| Joint bookrunners: | Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Bank of America Merrill Lynch, Barclays, J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc.
|
| Coupon: | 6¼%
|
| Price: | Par
|
| Yield: | 6¼%
|
| Spread: | 462 bps
|
| Call protection: | Non-callable
|
| Make-whole: | Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Dec. 3
|
| Settlement date: | Dec. 6
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B-
|
| Distribution: | SEC registered
|
| Price talk: | 6 3/8% area
|
| Marketing: | Quick to market
|
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