Community Health Systems, Inc. Announces Offering of $1,440 Million of Junior-Priority Secured Notes Due 2030

May 05, 2021 at 09:15 am by Staff


Community Health Systems, Inc. (the "Company") (NYSE: CYH) announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the "Issuer"), intends to offer $1,440 million aggregate principal amount of Junior-Priority Secured Notes due 2030 (the "Notes"), subject to market and other conditions (the "Notes Offering").

The Issuer intends to use the net proceeds from the Notes Offering, together with cash on hand, to redeem all of its outstanding 8.125% Junior-Priority Secured Notes due 2024 and to pay related fees and expenses.

The Notes will be offered in the United States 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 outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.

Sections: Grand Rounds