---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-028231"
form_type: "8-K"
ticker: "HCA"
cik: "0000860730"
company_name: "HCA Healthcare, Inc."
filed_at: "2025-02-18T23:59:59+00:00"
generated_at: "2026-05-26T18:23:01.126275+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# HCA Inc. proposes public offering of senior notes; plans $8B unsecured credit facility to replace secured facilities

## Summary
- HCA subsidiary HCA Inc. proposes offering of senior notes; final terms (maturity, rate, amount) depend on market conditions.
- Issuer intends to refinance $3.5B cash flow and $4.5B ABL secured credit facilities with new $8B senior unsecured revolving credit facility.
- New facility has 5-year term, leverage covenant of 4.50:1.00 (step-up to 5.00 after material acquisition), and initial rate of Term SOFR + 1.250% plus 0.10% credit spread.
- Net proceeds from note offering will be used for general corporate purposes, which may include repaying $2.95B ABL borrowings.

## SEC filing metadata
- accession: 0001193125-25-028231
- form_type: 8-K
- ticker: HCA
- cik: 0000860730
- company_name: HCA Healthcare, Inc.
- filed_at: 2025-02-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/860730/000119312525028231/0001193125-25-028231-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/860730/000119312525028231/d830507d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-028231
- JSON: https://secwatch.observer/filing/0001193125-25-028231.json
- Plain text: https://secwatch.observer/filing/0001193125-25-028231.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.