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DaVita To Sell $1.45 Billion Of Notes To Fund Debt-Refinance Plan

DOW JONES NEWSWIRES DaVita Inc. (DVA) plans to sell $1.45 billion of notes to fund the potential repurchase of up to $1.55 billion of debt as the operator of dialysis centers joins a host of companies looking to retire near-term borrowings with longer-data, and hopefully cheaper, debt. The length of the notes to be sold wasn't disclosed in a statement. In the tender offer are $700 million of 6 5/8% notes maturing in 2013 and $850 million of 7 1/4% notes due 2015. The company is offering 1.9% and 3.9% above face value, respectively, including an early tender premium. Sale of the new notes is contingent on closing new credit lines. DaVita last week announced a $3.35 billion debt-refinancing plan that besides the $1.55 billion of notes includes $1.8 billion of borrowings under senior credit lines. DaVita has seen earnings grow in recent quarters amid increasing demand. Last month, uncertainty that had jostled its share price for months was lifted as effects of a shift in Medicare and Medicaid reimbursement were clarified. The company's commentary on the changes was cautiously upbeat, according to an analyst. Shares closed at $69.03 Thursday and didn't trade premarket. Thos stock has risen 18% this year. -By Jodi Xu, Dow Jones Newswires; 212-416-3037; [email protected]

Stock News for Davita (DVA)
DateTimeHeadline
01/12/201722:32:00Judge Blocks Rule That Could Limit Premium Assistance for Dialysis...
01/11/201713:17:08Statement of Changes in Beneficial Ownership (4)
01/11/201713:16:40Initial Statement of Beneficial Ownership (3)
01/10/201717:06:00SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On...
01/10/201710:34:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation...
01/10/201710:10:00SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces...
01/09/201717:02:00DAVITA NOTIFICATION: Faruqi & Faruqi, LLP Encourages Investors...
01/09/201715:51:00EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities...
01/09/201706:50:00DaVita Inc. to Present at the 35th Annual J.P. Morgan Healthcare...
01/09/201706:06:48Current Report Filing (8-k)
01/09/201706:00:00DaVita Enters Into New Sourcing and Supply Agreement with Amgen...
01/06/201717:15:00Dialysis Community Seeks Emergency Relief to Block CMS' Unlawful...
01/05/201717:37:00DaVita Appoints Pascal Desroches to Board of Directors
01/05/201717:37:00DaVita Announces Joel Ackerman to be CFO
01/05/201717:20:06Current Report Filing (8-k)
01/05/201717:19:14Current Report Filing (8-k)
01/04/201706:13:00Military-Friendly Employer for 8th Consecutive Year
12/29/201616:46:00DaVita Celebrates 2016 Achievements
12/29/201613:51:00DaVita Celebrates 2016 Achievements
12/22/201610:17:00HealthCare Partners Nevada to Acquire WellHealth Quality Care

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