HCA prices $3.25 billion in senior notes maturing 2030 to 2055
HCA Inc., a wholly owned subsidiary of HCA Healthcare, completed a public offering of $3.25 billion in senior unsecured notes on October 31, 2025, in four tranches maturing between 2030 and 2055. HCA Healthcare fully and unconditionally guarantees the notes, which increases the company's long-term debt obligations, and the filing does not state how the proceeds will be used.
Key points
- Four tranches: $500 million 4.300% notes due November 15, 2030; $1.0 billion 4.600% notes due 2032; $1.0 billion 4.900% notes due 2035; and $750 million 5.700% notes due November 15, 2055.
- Interest is payable semi-annually on May 15 and November 15, starting May 15, 2026.
- HCA Healthcare guarantees the notes on a senior unsecured basis; underwriters J.P. Morgan, Citigroup, Mizuho and Wells Fargo were representatives under an October 27, 2025 underwriting agreement.
- If both a qualifying ratings downgrade and certain changes of control occur, holders may require repurchase at 101% of principal plus accrued interest.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:21 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 31, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.