Recent Updates — THC
Tenet Healthcare Corporation issued $2 billion in aggregate principal amount of 6.250% senior notes due 2034 on September 22, 2026. The company intends to use the net proceeds, together with cash on hand, to redeem all $1.5 billion outstanding of its 5.125% senior secured first lien notes due November 2027 and partially redeem $0.5 billion of its 6.125% senior notes due October 2028. The new debt is governed by a supplemental indenture that restricts liens, sale-leaseback transactions, and asset sales but permits additional indebtedness and restricted payments. Tenet Healthcare Corporation operates in the healthcare industry, owning and operating hospitals.
Tenet Healthcare Corporation announced the pricing and upsizing of a $2.0 billion private placement offering of senior notes due September 15, 2034, bearing interest at 6.250% per annum. The company intends to use net proceeds, combined with cash on hand, to fully redeem its $1.5 billion outstanding 5.125% senior secured first lien notes due November 2027 and partially redeem $0.5 billion of its 6.125% senior notes due October 2028. The closing is expected on September 22, 2026, with redemptions scheduled for September 23, 2026. Tenet Healthcare Corporation operates a diversified healthcare services network including acute care hospitals and ambulatory surgery centers.
Tenet Healthcare Corporation reported second quarter 2026 net income of $826 million, or $9.84 per diluted share, significantly increasing from $288 million, or $3.14 per diluted share, in the prior year period. Adjusted diluted earnings per share rose 52.2% to $6.12. Consolidated Adjusted EBITDA grew 16.3% to $1.304 billion. The company raised its full-year 2026 Adjusted EBITDA outlook to a range of $4.83 billion to $5.03 billion and increased its Adjusted Free Cash Flow guidance to $2.725 billion to $3.025 billion. Additionally, the Board authorized a $2.0 billion increase to the existing share repurchase program. Tenet Healthcare is a diversified healthcare services company operating ambulatory surgery centers and acute care hospitals.