HCA in $5.25 Billion Offering

Cleary Gottlieb is representing HCA Healthcare Inc. (HCA) in a registered offering (through its wholly owned subsidiary HCA Inc.) of a total of $5.25 billion of senior notes, consisting of $700 million of 5% senior notes due 2028, $300 million floating-rate senior notes due 2028, $750 million 5.25% senior notes due 2030, $750 million 5.5% senior notes due 2032, $1.5 billion 5.75% senior notes due 2035, and $1.25 billion 6.2% senior notes due 2055.

The notes are guaranteed on a senior unsecured basis by the issuer’s parent guarantor. The transaction priced on February 18, 2025, and is expected to close on February 21, 2025.

HCA intends to use a portion of the net proceeds for general corporate purposes, which may include the repayment of borrowings outstanding under its existing or future senior credit facilities.

HCA is one of the leading health care services companies in the United States and a leading comprehensive, integrated provider of health care, and related services. HCA provides these services through a network of acute care hospitals, outpatient facilities, clinics, and other patient care delivery settings. As of December 31, 2024, HCA operated 190 hospitals, 124 freestanding ambulatory surgery centers, and 26 freestanding endoscopy centers across 20 states throughout the United States and in England.