Nashville, Tenn.-based HCA Healthcare is raising $1 billion in senior debt to help finance its planned $1.5 billion acquisition of Asheville, N.C.-based Mission Health, according to a NashvillePost.com report.
HCA, one of the nation's largest for-profit hospital operators, said in a filing with the U.S. Securities and Exchange Commission that it plans to use the net proceeds of this offering "for general corporate purposes, which may include acquisitions."
On Jan. 17, Moody's Investors Service upgraded HCA's senior secured credit facilities and senior secured notes to a "Baa3" rating and assigned a "Ba2" rating to the company's new $1 billion of unsecured notes. The ratings agency said HCA will use proceeds from the new unsecured notes to fund the Mission Health acquisition.
North Carolina Attorney General Josh Stein gave HCA approval to move forward with the acquisition Jan. 16.
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