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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
08/26/201514:49:00Dinesh Kumar Named Senior VP of Clinical Transformation at DaVita...
08/24/201507:50:00DaVita Healthcare to Buy Renal Ventures for $415 Million
08/24/201506:13:00DaVita HealthCare Partners to Acquire Renal Ventures
08/19/201517:35:04Statement of Changes in Beneficial Ownership (4)
08/18/201506:09:00Community Health and Disaster Preparedness Fair Being Held in...
08/12/201518:47:21Statement of Changes in Beneficial Ownership (4)
08/10/201513:07:05Statement of Changes in Beneficial Ownership (4)
08/06/201509:35:00Specialized Health Services Stocks Coverage -- Omnicare, DaVita...
08/05/201506:15:28Quarterly Report (10-q)
08/04/201516:01:00DaVita HealthCare Partners Inc. 2nd Quarter 2015 Results
07/21/201507:57:00DaVita HealthCare Partners Inc. Schedules 2nd Quarter 2015 Investor...
07/14/201505:17:00HealthCare Partners Earns Top Honors from Leading Coordinated...
07/08/201516:01:00John F. Rizzo Joins Universal Health Services, Inc. As Vice President...
07/02/201517:24:17Statement of Changes in Beneficial Ownership (4)
07/02/201517:23:26Statement of Changes in Beneficial Ownership (4)
07/02/201517:22:59Statement of Changes in Beneficial Ownership (4)
07/02/201517:22:34Statement of Changes in Beneficial Ownership (4)
07/02/201517:22:08Statement of Changes in Beneficial Ownership (4)
07/02/201517:21:40Statement of Changes in Beneficial Ownership (4)
07/02/201517:21:15Statement of Changes in Beneficial Ownership (4)

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