Community Health Systems Announces Offering of $1.020 Billion of Senior Secured Notes Due 2025
January 23 2020 - 6:42AM
Business Wire
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
$1.020 billion aggregate principal amount of Senior Secured Notes
due 2025 (the “Notes”), subject to market and other conditions.
The Issuer intends to use the net proceeds of the offering of
Notes to (i) purchase any and all of its 5.125% Senior Secured
Notes due 2021 (the “2021 Notes”) validly tendered and not validly
withdrawn in the cash tender offer announced on January 23, 2020,
(ii) redeem all of the 2021 Notes that are not purchased pursuant
to such tender offer and (iii) pay related fees and expenses.
The 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 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.
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/20200123005396/en/
Investor Contacts: Kevin J. Hammons Executive Vice
President and Chief Financial Officer 615-465-7000 Ross W. Comeaux
Vice President – Investor Relations 615-465-7012 Media
Contact: Tomi Galin Senior Vice President, Corporate
Communications, Marketing and Public Affairs 615-628-6607
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