Company: THC
Filing Date: 2025-11-05
Form Type: 8-K
Source: 0001193125-25-266885
Chunk: 1

Company: TENET HEALTHCARE CORP
Filing Date: 2025-11-05
Form: 8-K
Item: Item 1.01
Chunk 1
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 applicable series of the notes, is satisfied.

Outstanding revolving loans under the Facility accrue interest at either (i) a base rate plus an applicable margin ranging from 0.25% to 0.50% per annum or (ii) Term SOFR, Daily Simply SOFR or EURIBOR Rate (each as defined in the ABL Agreement) plus an applicable margin ranging from 1.25% to 1.50% per annum, in each case based upon average quarterly available credit. The undrawn portions of the commitments under the Facility are subject to a commitment fee at a rate equal of 0.25% per annum.

The ABL Agent and certain lenders that are party to the ABL Agreement, as well as certain of their affiliates, have performed, and may in the future perform, for Tenet and its subsidiaries, various commercial banking, investment banking, underwriting and other financial advisory services, for which they have received and may in the future receive customary fees and expenses.

Amendment to Letter of Credit Facility Agreement

Also on the Closing Date, Tenet entered into an Amendment No. 7 (the “ LC Amendment”) to extend its existing Letter of Credit Facility Agreement, dated as of March 7, 2014 (as amended by the LC Amendment and in effect as of the Closing Date, the “ LC Agreement”), by and among Tenet, the LC participants and issuers party thereto and Barclays Bank PLC, as administrative agent (the “ LC Agent”). The LC Agreement provides for the issuance of standby and documentary letters of credit from time to time, in an aggregate principal amount of up to $200 million (the “ LC Facility”).

The LC Amendment has an effective date of November 4, 2025 and amends certain provisions under the LC Agreement to, among other things, extend the scheduled maturity date of the LC Facility from March 16, 2027 to November 4, 2030. Drawings under any letter of credit issued under the LC Facility that we have not reimbursed within three business days after notice thereof accrue interest at a base rate plus a margin equal to 0.25% per annum, (ii) an unused commitment fee will be payable at an initial rate of 0.25% per annum and (iii) a fee on the aggregate outstanding amount of issued but undrawn letters of credit will accrue at a rate of 1.25% per annum.

The LC Agent and certain LC participants and issuers party to the