DaVita said on May 23, 2025 it completed the private offering of $1.0 billion in 6.750% Senior Notes due 2033. The notes were sold to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

1. 01

   DaVita said on May 23, 2025 it completed the private offering of $1.0 billion in 6.750% Senior Notes due 2033. The notes were sold to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

2. 02

   The company said net proceeds after deducting the initial purchasers' discount and estimated fees and expenses were about $986 million. It said it plans to use $830 million of that amount to repay revolving credit facility borrowings. It said it plans to use the remaining proceeds for general corporate purposes, including share repurchases, working capital and capital expenditures.

3. 03

   The company said the 2033 Notes carry an interest rate of 6.750% per year and mature on July 15, 2033. Interest is payable on January 15 and July 15 each year, with the first payment due on January 15, 2026.

4. 04

   The company said the 2033 Notes are unsecured senior obligations and are effectively subordinated to secured debt. Before July 15, 2028, it may redeem up to 40% of the original principal at 106.750% of principal with proceeds from certain equity offerings. Upon a change of control, it must offer to repurchase the notes at 101% of principal.

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Original filing

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