DENVER , Aug. 8, 2024 /PRNewswire/ -- DaVita Inc. (NYSE: DVA ) ("DaVita") announced today the pricing of its previously announced private offering (the "offering") of $1.
0 billion aggregate principal amount of its 6.875% senior notes due 2032 (the "2032 notes"). The 2032 notes were priced at 100.
000% of their face amount to yield a 6.875% coupon. The offering is expected to close on August 13, 2024 , subject to satisfaction of customary closing conditions.
DaVita intends to use the net proceeds from the offering to (i) repay a portion of its outstanding Term Loan B-1 facility borrowings maturing in 2026 and a portion of its outstanding revolving credit facility borrowings, in each case, together with related accrued and unpaid interest thereon, (ii) pay any costs, fees and expenses in connection with the foregoing, and (iii) if any proceeds remain, for general corporate purposes, including, without limitation, for repurchases of its capital stock, working capital and capital expenditures. The 2032 notes were 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 2032 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 offe.