Community Health Systems Announces Offering of $1.580 Billion of Senior Secured Notes Due 2026
FRANKLIN, Tenn.--(BUSINESS WIRE)--Feb 27, 2019--Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the “Issuer”), intends to offer $1.580 billion aggregate principal amount of Senior Secured Notes due 2026 (the “New Notes”), subject to market and other conditions.
The Issuer intends to use the net proceeds of the offering to repay $1.557 billion aggregate principal amount of term loans outstanding under its Term H Facility and to pay related fees and expenses.
The New Notes will be offered in the United States to 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 New 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 New 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.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190227005958/en/
CONTACT: Thomas J. Aaron
Executive Vice President and Chief Financial Officer
615-465-7000Ross W. Comeaux
Vice President – Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA TENNESSEE
INDUSTRY KEYWORD: HEALTH HOSPITALS OTHER HEALTH GENERAL HEALTH MANAGED CARE
SOURCE: Community Health Systems, Inc.
Copyright Business Wire 2019.
PUB: 02/27/2019 04:10 PM/DISC: 02/27/2019 04:10 PM