Bloomberg reported Thursday afternoon that HCA Holdings executives are hitting up the banking world for a $2 billion loan that would refinance some of their existing debt. The move, wrote Sridhar Natarajan, comes after the nation's largest for-profit hospital operator reworked the interest rate on its $2.37 billion term loan maturing in 2018.
Nashville-based HCA (Ticker: HCA) has two $2 billion loans on its books: One is a senior secured term loan maturing at the end of March 2017, the other a senior secured revolving credit facility maturing in November 2016 that was undrawn at the end of 2012. The company finished last year with almost $29 billion of long-term debt on its books.
If recent corporate finance history is any guide, look for HCA to land more than $2 billion. In the past few years, the company has repeatedly upsized debt sales.
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