HCA Healthcare (HCA) completed on November 5, 2026 the public offering of $6.5 billion in senior notes (debt securities) issued by its subsidiary HCA Inc. The notes are guaranteed by HCA Healthcare, are unsecured, and were divided into seven series.
The series are: $500 million at 5.200% maturing in 2028; $300 million in floating rate notes maturing in 2028; $1 billion at 5.350% maturing in 2029; $1.25 billion at 5.500% maturing in 2031; $1.2 billion at 5.750% maturing in 2033; $1.5 billion at 6.000% maturing in 2036; and $750 million at 6.500% maturing in 2056.
Interest on the fixed-rate series will be paid semiannually. Interest on the floating rate series will be paid quarterly, starting on February 3, 2027. The floating rate series cannot be redeemed before maturity; the others may be redeemed in whole or in part at any time, at the prices set forth in the indentures.
In the event of a change of control accompanied by a credit rating downgrade, holders may require the repurchase of the notes at 101% of the principal amount, plus accrued interest. The indentures limit the creation of liens on assets and sale and lease-back transactions. The sale was led by Mizuho Securities, Barclays, BofA Securities and Wells Fargo Securities.
