Tenet Refinances $500-Million Loan
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Tenet Healthcare Corp. said it reached an agreement with three banks for a new $500-million credit facility, in a deal that will give the hospital operator more than $1 billion of liquidity.
Banc of America Securities, Citigroup and SunTrust Bank have committed to be joint-lead arrangers of the three-year senior term loan credit facility, said Tenet, which has been weathering regulatory scrutiny of its Medicare billing practices.
The facility will replace Tenet’s undrawn $500-million facility that matures at the end of next month, Tenet said.
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