DaVita Inc. Announces Pricing of $1.5 Billion Senior Notes Offering

DaVita Inc. (NYSE: DVA) (“DaVita”) announced today the pricing of its previously announced private offering of $1.5 billion aggregate principal amount of senior notes due 2031 (the “2031 notes”). The 2031 notes were priced at 100% of their face amount to yield a 3.750% coupon. The offering is expected to close on August 11, 2020, subject to satisfaction of customary closing conditions.

DaVita intends to use the net proceeds from the offering of the 2031 notes, together with cash on hand, to redeem all $1.5 billion aggregate principal amount outstanding of its 5.000% senior notes due 2025 (the “2025 notes”) and pay all fees and expenses related to such redemption and the offering. The 2025 notes will be redeemed on August 21, 2020, subject to the completion of the 2031 notes offering. Nothing contained in this release constitutes a notice of redemption of the 2025 notes.

The 2031 notes were offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in transactions outside the United States in compliance with Regulation S under the Securities Act. The offer and sale of the 2031 notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.