Company: THC
Filing Date: 2025-11-03
Form Type: 8-K
Source: 0000070318-25-000048
Chunk: 0

Company: TENET HEALTHCARE CORP
Filing Date: 2025-11-03
Form: 8-K
Item: Item 7.01
Chunk 0
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Item 7.01.      Regulation FD Disclosure.  

On November 3, 2025 A copy of the press release is furnished as Exhibit 99.1 attached hereto and is incorporated herein by reference.

Additionally, on November 3, 2025 The closings of the sales of the notes are expected to occur on November 18, 2025, and are subject to customary closing conditions. A copy of the press release is furnished as Exhibit 99.2 attached hereto and is incorporated herein by reference.

The first lien notes will be guaranteed by certain of the Company’s subsidiaries and secured on a first lien priority basis by a pledge of the capital stock and other ownership interests of certain of the Company’s subsidiaries. The first lien notes will be effectively senior to the Company’s existing and future indebtedness secured on a more junior basis, as well as unsecured indebtedness and other liabilities, to the extent of the value of the collateral securing such borrowings. The senior notes will be the Company’s unsecured obligations and will rank equally in right of payment with its existing and future senior unsecured obligations, will rank senior in right of payment to all of the Company’s existing and future unsecured subordinated obligations, will be effectively subordinated to all of the Company’s existing and future senior secured obligations, including the first lien notes, to the extent of the value of the collateral securing the Company’s senior secured obligations and will be structurally subordinated to all obligations and liabilities of the Company’s subsidiaries to the extent of the value of the assets of such subsidiaries.

The Company intends to use the net proceeds from the sale of the notes, after payment of fees and expenses, to finance, together with cash on hand, the redemption of all $1.5 billion outstanding of its 6.250% senior secured second lien notes due February 2027 (the “2027 Notes”) and the partial redemption of $0.75 billion outstanding of its 6.125% senior notes due October 2028 (the “2028 Notes”).

  Item 8.01.      Other Events.