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HOSPITALS: Tenet borrows another $500 million

Speaking of hospital systems accessing capital, after the market close Tuesday Tenet borrowed another chunk of cash, about $550m worth and rolled over some of its shorter-term debt to longer-term notes. It now has about $1.1 billion cash available, but remember that it "acknowledged in March that its current capital structure was not meant to cover any major settlements." Whether these newly issued bonds (paying over 10%) will be a good buy or will be future wallpaper is anyone’s guess.

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