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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; jodi.xu@dowjones.com

Stock News for Davita (DVA)
DateTimeHeadline
12/02/201614:28:00DaVita Launches Joint Venture with Inspira Health Network to...
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11/28/201613:35:00Humana to Add JSA Medical Group’s New Primary Care Practices D...
11/17/201608:12:00HealthCare Partners Saves $1.6 million in Anthem Blue Cross Enhanced...
11/17/201607:43:00HealthCare Partners Encourages Medicare Beneficiaries to Review...
11/14/201612:41:00DaVita Clinical Research to Present 12 Abstracts at American...
11/08/201606:13:00DaVita Supports National Diabetes Month
11/02/201617:16:46Quarterly Report (10-q)
11/02/201616:21:19Current Report Filing (8-k)
11/02/201616:01:00DaVita Inc. 3rd Quarter 2016 Results
11/01/201606:33:11Current Report Filing (8-k)
10/31/201602:22:00DaVita Announces Change for Medicaid Patients Seeking Affordable...
10/27/201606:13:00DaVita's Annual Bike Ride Raises over $1.2 Million
10/25/201606:04:00DaVita Named to Dow Jones Sustainability World Index
10/24/201614:13:00DaVita is a Clinical Leader in Government Five-Star Rating System
10/24/201611:13:00DaVita is the Clinical Leader in Government Five-Star Ratings
10/23/201614:22:00DaVita Helps Dialysis Patients Celebrate National Food Day with...
10/20/201606:09:05Current Report Filing (8-k)
10/11/201606:13:00DaVita Named to Dow Jones Sustainability World Index
10/07/201616:58:00DaVita Inc. Schedules 3rd Quarter 2016 Investor Conference Call

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