Tenet Announces Completion of Cash Tender Offer for 7.375% Senior Notes (THC)

Tenet Healthcare Corporation THC announced today the completion of its previously announced cash tender offer to purchase a portion of its outstanding 7.375% Senior Notes due 2013. The tender offer expired at 12:00 midnight, New York City time, on August 30, 2010. Tenet received tenders from the holders of approximately $781.5 million aggregate principal amount of the outstanding notes (approximately 78.3%) prior to the expiration of the early tender time at 5:00 p.m., New York City time, on August 16, 2010. Holders of the notes tendered prior to the expiration of the early tender time will be eligible to receive consideration of $1,055 per $1,000 principal amount of notes, which includes an early tender premium of $30 per $1,000 principal amount of notes, plus accrued and unpaid interest up to, but not including, the settlement date. Tenet will purchase the notes tendered for total consideration of $829,427,988, representing $824,624,165 in principal payments and $4,803,823 in accrued and unpaid interest through the date of purchase. Tenet will purchase the notes with the net proceeds from its private offering of $600,000,000 aggregate principal amount of 8% Senior Notes due 2020 (net proceeds of approximately $589 million) and cash on hand.