Community Health Systems, Inc. Announces Pricing of $1,225.0 Million Tack-On Offering of 10.875% Senior Secured Notes Due 2032
21 Mai 2024 - 10:34PM
Business Wire
Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today
announced that its wholly owned subsidiary, CHS/Community Health
Systems, Inc. (the “Issuer”), has priced an offering of an
additional $1,225.0 million aggregate principal amount of its
outstanding 10.875% Senior Secured Notes due 2032 (the “Tack-On
Notes”) at an issue price of 102.000%, plus accrued and unpaid
interest from December 22, 2023 to the closing date (the “Notes
Offering”). This represents an increase of $100.0 million in
aggregate principal amount in the offering size of the Tack-On
Notes. The Tack-On Notes will be part of the same series as, and
rank equally with, the Issuer’s 10.875% Senior Secured Notes due
2032 issued in December 2023. After giving effect to this offering,
the Issuer will have $2,225.0 million aggregate principal amount of
outstanding 10.875% Senior Secured Notes due 2032. The sale of the
Tack-On Notes is expected to be consummated on or about June 5,
2024, subject to customary closing conditions.
The Issuer intends to use the net proceeds of the Notes Offering
to redeem all of its outstanding 8.000% Senior Secured Notes due
2026 (the “2026 Notes”) at par plus accrued and unpaid interest to,
but excluding the redemption date, to fund $100 million of
repurchases of the Issuer’s other outstanding notes, to pay related
fees and expenses and for general corporate purposes, which may
include the repayment of a portion of our ABL Facility. This press
release shall not constitute a notice of redemption for the 2026
Notes.
The Tack-On Notes are being 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 Tack-On 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
Tack-On 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.
Forward-Looking Statements
This press release may include information that could constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve
risk and uncertainties. The Company undertakes no obligation to
revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise, except as otherwise
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240521655842/en/
Investor Contacts: Kevin J. Hammons, 615-465-7000
President and Chief Financial Officer or Anton Hie, 615-465-7012
Vice President – Investor Relations
Media Contact: Tomi Galin, 615-628-6607 Executive Vice
President, Corporate Communications, Marketing and Public
Affairs
Community Health Systems (NYSE:CYH)
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Community Health Systems (NYSE:CYH)
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