Gibson Dunn Represented Tenet Healthcare on $2.25 Billion Bond Financing, $1.9 Billion ABL Financing, Letter of Credit Facility Maturity Extension
Firm News | November 20, 2025
Gibson Dunn represented Tenet Healthcare Corporation in a private placement offering of $1.5 billion in aggregate principal amount of their 5.500% senior secured first lien notes due 2032 and $750 million in aggregate principal amount of their 6.000% senior notes due 2033. Goldman Sachs & Co LLC, Barclays Capital Inc., Citigroup Global Markets Inc., BofA Securities, Inc., Capital One Securities, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, Fifth Third Securities, Inc., and Santander US Capital Markets LLC acted as Initial Purchasers.
Gibson Dunn further represented Tenet Healthcare Corporation in connection with a new ABL Credit Facility under which JPMorgan Chase Bank, N.A., as administrative agent, and other lenders will provide an aggregate revolving commitment of $1.9 billion and an amendment to its existing L/C Credit Facility with Barclays Bank PLC.
The Gibson Dunn capital markets team included partner Andrew Fabens, of counsel Rodrigo Surcan and associates Victoria Dodev and Kevin Mills. Partner Aaron Adams and associates Julia Sweitzer and Mackenzie Alpert advised on the ABL financing. Partner Jennifer Sabin and of counsel Kate Long advised on tax matters.