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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
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)
07/02/201517:21:15Statement of Changes in Beneficial Ownership (4)
07/02/201506:07:00DaVita Kidney Care Shares Kidney-Friendly Fourth of July Recipes...
07/01/201506:03:00DaVita HealthCare Partners Expands Presence in Lower Downtown...
06/30/201506:26:00DaVita HealthCare Partners Recognized as a Top Green Company...
06/29/201506:13:00Falcon Physician Honored As Gold Stevie® Award Winner In 2015...
06/26/201506:28:00DaVita Kidney Care Observes Men's Health Month
06/26/201505:32:00DaVita HealthCare Partners Celebrates Men's Health Month
06/25/201510:07:00DaVita Emergency Response Team Prepares Patients for Hurricane...
06/24/201508:00:18DaVita HealthCare Subpoenaed Over Medicare Coding
06/24/201506:08:59Current Report Filing (8-k)
06/24/201506:07:35Current Report Filing (8-k)
06/23/201516:46:59Annual Report of Employee Stock Plans (11-k)
06/19/201516:54:36Current Report Filing (8-k)

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