HCA to roll out up to $1 billion first-lien notes offering this week

By Paul A. Harris

St. Louis, April 13 - HCA Inc. is expected to roll out a $500 million to $1 billion offering of first-lien notes this week, according to a buyside source.

Citigroup Global Markets Inc. will lead the deal, added the source, who agreed to speak on background.

Banc of America Securities LLC is also expected to be involved.

The Nashville-based health care services provider will use the proceeds to repay some of its $10 billion of outstanding bank debt.

On Feb. 11 HCA priced a $310 million issue of 9 7/8% eight-year senior secured second-priority notes (B2/BB-/B+) at 96.673 to yield 10½%. Proceeds from that issue were also applied to the company's bank debt.

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