Company: THC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000070318-25-000017
Chunk: 10

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 31, 2024Senior unsecured notes:  6.125% due 2028$2,500 $2,500 6.875% due 2031362 362 Senior secured first lien notes:  5.125% due 20271,500 1,500 4.625% due 2028600 600 4.250% due 20291,400 1,400 4.375% due 20301,450 1,450 6.125% due 20302,000 2,000 6.750% due 20311,350 1,350 Senior secured second lien notes:6.250% due 20271,500 1,500 Finance leases, mortgages and other notes597 605 Unamortized issue costs and note discounts(89)(94)Total long-term debt13,170 13,173 Less: Current portion88 92 Long-term debt, net of current portion$13,082 $13,081 Senior Unsecured Notes and Senior Secured NotesAt March 31, 2025, we had senior unsecured notes and senior secured notes with aggregate principal amounts outstanding of $12.662 billion. These notes have fixed interest rates ranging from 4.250% to 6.875% and require semi‑annual interest payments in arrears. A payment of the principal and any accrued but unpaid interest is due upon the maturity date of the respective notes, which dates are staggered from February 2027 through November 2031.Credit AgreementWe have a senior secured revolving credit facility (as amended, the “Credit Agreement”) that provides for revolving loans in an aggregate principal amount of up to $1.500 billion with a $200 million subfacility for standby letters of credit. Our borrowing availability, which is based on a specified percentage of eligible inventory and accounts receivable, was $1.500 billion at March 31, 2025. On that date, we had no cash borrowings outstanding under the Credit Agreement, and we had less than $1 million of standby letters of credit outstanding.Letter of Credit FacilityWe have a letter of credit facility (as amended to date, the “LC Facility”) that provides for the issuance, from time to time, of standby and documentary letters of credit in an aggregate principal amount of up to $200 million. At March 31,