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NAPLES -- Health Management Associates Inc. (symbol: HMA) hopes to access $3.7 billion in debt capital, a company release shows.
The Naples-based hospital management firm will set up a new $500 million credit facility; enter into two new loans, worth $1 billion and $1.2 billion respectively; and issue $1 billion in senior unsecured notes in a private placement, the release explains.
The proceeds of the capital raise will be used to repay current outstanding credit, and for other general corporate purposes.
Health Management Associates saw third quarter revenues grow 12% to $1.4 billion, according to its latest earnings statement. Shares of its stock were down roughly 3% early Tuesday to $8.62.
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