Rochester, NY 8/25/2009 4:02:24 PM
Tenet Healthcare Corp. THC, Tenet Save millions of dollars in interest and debt
Tenet Healthcare Corp. THC
A quantity of corporations are quietly exchange back bonds on the cheap in the open market as the financial system works its way out of crisis mode.They are taking advantage of depressed prices to save millions of dollars in interest and debt-repayment costs.
In the recent round of second-quarter financial filings, companies including Beazer Homes USA Inc., Hexion Specialty Chemicals Inc., Harrah's Entertainment Inc. and Tenet Healthcare Corp. disclosed they had bought slugs of their bonds from the market at discounts to the debt's face, or par, value. Until the disclosures, investors were mostly in the dark
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