Tenet Healthcare to sell $300 million mandatory convertible preferreds

New York, Sept. 21. - Tenet Healthcare Corp. said it plans to sell $300 million of mandatory convertible preferred stock in a public offering.

Goldman, Sachs & Co. will be bookrunner.

The deal will be made up of 300,000 shares with a liquidation preference of $1,000 per share.

There will be a greenshoe for up to 15% more.

The preferreds will convert into common stock on Oct. 1, 2012.

Proceeds will be used to buy back the company's senior notes through public or private transactions.

Dallas-based Tenet Healthcare owns and operates acute-care hospitals and provides related health-care services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.