DENVER, CO (STL.News) DaVita Inc. (NYSE: DVA) (“DaVita”) announced today that it has commenced a private offering of $1.75 billion aggregate principal amount of senior notes due 2030 (the “2030 notes”), subject to market and other conditions.
Prior to the closing date of this offering, DaVita will deliver a notice of conditional redemption to holders of its 5.125% senior notes due 2024 (the “2024 notes”) stating that the entire principal amount outstanding of such 2024 notes will be redeemed on July 15, 2020, subject to the completion of the 2030 notes offering. Nothing contained in this release constitutes a notice of redemption of the 2024 notes.
DaVita intends to use the net proceeds from the offering of the 2030 notes, together with cash on hand, to redeem all $1.75 billion aggregate principal amount outstanding of the 2024 notes and pay all fees and expenses related to such redemption and the offering.
The 2030 notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in transactions outside the United States in compliance with Regulation S under the Securities Act. The offer and sale of the 2030 notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This release does not constitute an offer to sell or the solicitation of an offer to buy the 2030 notes, nor will there be any sale of the 2030 notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.