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Fri, January 23, 2009
Thu, January 22, 2009

Tenet Announces Exchange Offer for up to $1.6 Billion Aggregate Principal Amount of Notes Due 2011 and 2012


Published on 2009-01-22 04:43:27, Last Modified on 2009-01-22 04:44:13 - Market Wire
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DALLAS--([ BUSINESS WIRE ])--Tenet Healthcare Corporation (NYSE: THC) announced today that it has commenced an offer to exchange up to $1.6 billion aggregate principal amount of its outstanding notes maturing on December 1, 2011 and June 1, 2012 for an equal aggregate principal amount of two new series of senior secured notes maturing in 2014 and 2019. The new notes will be guaranteed by and secured by a pledge of the capital stock and other ownership interests of certain of Tenet's subsidiaries.

The new notes are being offered through a private placement, and have not been registered under the Securities Act of 1933, or any state securities laws. As a result, they may not be offered or sold in the United States or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the new notes are being offered for exchange only to eligible holders who are "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. A confidential offering memorandum, dated today, will be made available to such eligible holders. This press release is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related health care services. Tenet's hospitals aim to provide the best possible care to every patient who comes through their doors, with a clear focus on quality and service. Tenet can be found on the World Wide Web at [ www.tenethealth.com ].

Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended Dec. 31, 2007, our quarterly reports on Form 10-Q and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.

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