Tenet issues $2B of 6.125% senior secured notes due 2030 to redeem 2023 notes

TENET HEALTHCARE CORP

$2B aggregate principal of 6.125% senior secured first lien notes due 2030 issued.
Net proceeds to redeem all outstanding 6.750% senior notes due 2023.
Covenants restrict liens, subsidiary guarantees, asset sales, mergers; no restrictions on additional debt, dividends, or investments.
Notes callable at make-whole premium prior to June 2025, then at stated redemption prices.
Exchange and registration rights agreement; special interest up to 1.0% additional if registration defaults occur.

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