HCA markets 10-year notes at 130 bps area over Treasuries, 30-year notes at 175 bps area spread

By Cristal Cody

Chicago, June 21 – HCA Inc. is in the market with a two-part offering of notes, a market source said.

The company is planning to sell a tranche of notes due July 15, 2031 with spread talk in 130 basis points area over Treasuries.

A longer-dated tranche of notes due July 15, 2051 is being talked in the Treasuries plus 175 bps area.

The notes have a make-whole call and a par call.

Any change-of-control event will mean that the issuer will make an offer to purchase the notes at 101.

BofA Securities Inc. and Wells Fargo Securities LLC are joint bookrunners, according to a 424B3 filing with the Securities and Exchange Commission.

Proceeds will be used, with a new term loan B, to repay all or a portion of the company’s $1.455 billion senior secured term loan B-12 facility and $1.131 billion senior secured term loan B-13 facility, and for general corporate purposes.

HCA is a Nashville, Tenn.-based hospital operator.

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