In a move suggesting that the bond market's long dark period of inactivity may be coming to a close, HCA has managed to close a $1.5 billion offering of 10-year high-yield notes.

The issue, the year's biggest according to Bloomberg data, offered 8.5 percent bonds priced at 96.76 cents on the dollar, yielding 9 percent. Investors are liking this price, which offers higher returns than other comparable speculative-grade paper.

HCA announced earlier this week that it expects to announce much-better first-quarter profits for this year compared with 2008, largely due to higher outpatient volume and better control of expenses.

To learn more about HCA's latest financial strategy:
- read this piece [1] from The Tennessean

Related Articles:
HCA predicts better first-quarter profits [2]
HCA sees debt rising until patients get insured [3]
HCA boosts income, stabilizes bad debt expense [4]