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HCA 424B5: Secondary offering

Filed with the SEC on · accession 0001193125-26-446253

HCA filed a 424B5 (prospectus (offering)) with the SEC on Nov 4, 2026. HCA Inc., a subsidiary of HCA Healthcare, Inc., is offering $6.5 billion in senior notes across seven tranches with maturities ranging from 2028 to 2056. The stock moved +10.3% by the first close after the filing.

Summary of the filing

HCA Inc., a subsidiary of HCA Healthcare, Inc., is offering $6.5 billion in senior notes across seven tranches with maturities ranging from 2028 to 2056. The net proceeds are intended for general corporate purposes, potentially including redemption of 2027 notes and repayment of commercial paper and credit facility borrowings.

For details, click here →How to read a 424B5 →

Key details

Total senior notes offering$6.5B
5.200% Senior Notes due 2028$500.0M
Floating Rate Senior Notes due 2028$300.0M
5.350% Senior Notes due 2029$1.0B
5.500% Senior Notes due 2031$1.3B
5.750% Senior Notes due 2033$1.2B
6.000% Senior Notes due 2036$1.5B
6.500% Senior Notes due 2056$750.0M
IssuerHCA Inc.
Parent guarantorHCA Healthcare, Inc.
Joint book-running managerMizuho
Joint book-running managerBarclays
Joint book-running managerBofA Securities
Joint book-running managerWells Fargo Securities

How HCA stock reacted

Close before

$462.86

Nov 3, 2026

First close after

+10.34%

$510.70

5 trading days

—

Since filing

+9.64%

$507.48

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Frequently asked questions

What did HCA file with the SEC on Nov 4, 2026?

HCA filed a 424B5 (Secondary offering). HCA Inc., a subsidiary of HCA Healthcare, Inc., is offering $6.5 billion in senior notes across seven tranches with maturities ranging from 2028 to 2056. The net proceeds are intended for general corporate purposes, potentially including redemption of 2027 notes and repayment of commercial paper and credit facility borrowings.

What does a secondary offering mean for HCA stock?

New shares dilute existing holders and are often sold at a discount to the market price.

How do I read a 424B5?

The final terms of an offering of shares or bonds. Look at price, number of shares and the discount to the market price. Large offerings dilute existing shareholders.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 424B5 (prospectus (offering)): The final terms of an offering of shares or bonds.

How did HCA stock react to this filing?

HCA closed at $462.86 before the filing and $510.70 on Nov 4, 2026 (+10.34%).

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