Tenet Said to Talk With Lenders on $2 Billion Loan for USPI Deal
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Tenet Healthcare Corp. will start marketing $2 billion in loans on Friday to back its joint venture with United Surgical Partners International Inc. and purchase of Aspen Healthcare Ltd, according to a person with knowledge of the deal.
The Dallas-based company is holding a conference call with lenders to discuss the bridge financing, which will consist of a $1.5 billion unsecured portion and a $500 million secured part, said the person, who asked not be identified because the call is private. A bridge loan is short-term debt until a company obtains permanent financing. Barclays Plc is arranging the deal.