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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
02/28/201706:13:00Dr. Adam Weinstein Joins DaVita Kidney Care Physician Leadership...
02/27/201718:17:44Statement of Changes in Beneficial Ownership (4)
02/24/201716:37:50Annual Report (10-k)
02/23/201717:27:12Statement of Changes in Beneficial Ownership (4)
02/23/201717:21:39Initial Statement of Beneficial Ownership (3)
02/23/201706:03:00DaVita Appoints Chief Medical Officer for Integrated Kidney Care
02/21/201714:00:00Cigna and HealthCare Partners Form Alliance to Deliver Innovative...
02/16/201716:22:26Current Report Filing (8-k)
02/16/201716:01:00DaVita Inc. 4th Quarter 2016 Results
02/09/201712:30:51Amended Statement of Ownership (sc 13g/a)
02/08/201706:00:00Government Report Shows DaVita Has Top Clinical Outcomes
02/06/201706:51:00DaVita Inc. Schedules 4th Quarter 2016 Investor Conference Call
02/02/201715:46:00DaVita Recognized Among 2017 Training Top 125
02/01/201707:35:00DaVita Finalizes Acquisition of Mountain View Medical Group
02/01/201706:11:47Current Report Filing (8-k)
01/27/201708:35:00HealthCare Partners Honored for Providing High-Quality Care to...
01/25/201721:07:00Judge Blocks Rule That Would Limit Premium Assistance for Dialysis...
01/25/201719:44:00DaVita Responds to US District Court, Eastern District of Texas...
01/23/201714:23:49Amended Statement of Ownership (sc 13g/a)
01/12/201722:32:00Judge Blocks Rule That Could Limit Premium Assistance for Dialysis...

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