Hospital operator Tenet Healthcare Corp. said Tuesday it is planning a private placement of $1.45 billion of nine-year, high-yield bonds. Process will be used to fund the acquisition of Surgical Center Development #3, LLC and Surgical Center Development #4, LLC’s ownership interest in a portfolio of 92 ambulatory surgery centers and certain other related assets, the company said. Any remaining proceeds will be used for general corporate purposes, including the repayment of debt, for working capital and capital expenditures. Tenet shares were slightly higher premarket and have gained 101% in the year to date, while the S&P 500 has gained 25%.
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