Tenet Healthcare Issues $3.5B Private Debt Offering

© 2017 The Texas Lawbook.

By Natalie Posgate

(June 6) – Dallas-based Tenet Healthcare and its longtime general counsel, Audrey Andrews, priced on Monday a giant private offering of newly issued notes to refinance $3.5 billion of its currently outstanding notes.

The series of notes will be issued by THC Escrow Corp. with interest rates ranging from 4.625 percent to 7 percent per annum. Tent said it will use proceeds from the private offerings to pay off outstanding note that are due as soon as next year.

Andrews has been with Tenet’s in-house legal department since 1998, when she started with the company as an associate hospital operations counsel. She worked her way up to GC in 2013. Before 19-year tenure at Tenet, Andrews was the assistant general counsel at M.A.P.A. Inc. Before that, the University Texas School of Law alum was an associate in Locke Lorde’s corporate and securities practice group.

Andrews hired a group of New York and Los Angeles attorneys from Gibson, Dunn & Crutcher to handle the outside legal work for Monday’s private offering.

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