Community Health Systems, Inc. Announces Completion of Offering of $2.2 Billion of 6.250% Senior Secured Notes Due 2023
March 16 2017 - 4:15PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today
announced that its wholly owned subsidiary, CHS/Community Health
Systems, Inc. (the “Issuer”), had completed its offering (the
“offering”) of $2.2 billion aggregate principal amount of its
6.250% Senior Secured Notes due 2023.
As previously announced, the Company intends to use the net
proceeds of the offering to purchase any and all of the Issuer’s
5.125% Senior Secured Notes due 2018 (the “2018 Notes”) that are
validly tendered and not validly withdrawn in the cash tender offer
announced on March 2, 2017, to redeem all of the 2018 Notes that
are not purchased pursuant to the tender offer, to repay $1.445
billion aggregate principal amount of certain term loans
outstanding under its amended and restated credit facility, to pay
related fees and expenses and the remainder, if any, for general
corporate purposes.
The underwriters in connection with the offering were Credit
Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Citigroup Global Markets Inc., Credit Agricole
Securities (USA) Inc., Goldman, Sachs & Co., J.P. Morgan
Securities LLC, RBC Capital Markets, LLC, SunTrust Robinson
Humphrey, Inc., UBS Securities LLC, Wells Fargo Securities, LLC,
BBVA Securities Inc., Deutsche Bank Securities Inc., Fifth Third
Securities, Inc., Morgan Stanley & Co. LLC, Regions Securities
LLC and Scotia Capital (USA) Inc. The offering was made only by
means of a prospectus and related prospectus supplement, copies of
which may be obtained on the Securities and Exchange Commission’s
website at www.sec.gov. Alternatively, these documents may be
obtained from Credit Suisse Securities (USA) LLC by directing a
request to Credit Suisse Securities (USA) LLC, Document Retention,
11 Madison Avenue, New York, NY 10010, or by calling (800) 221-1037
(toll-free).
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. Such an offer can
only be made by delivery of a prospectus and prospectus supplement,
if applicable, that have been filed with the Securities and
Exchange Commission.
About Community Health Systems, Inc.
Community Health Systems, Inc. is one of the largest publicly
traded hospital companies in the United States and a leading
operator of general acute care hospitals in communities across the
country. The Company, through its subsidiaries, owns, leases or
operates 158 hospitals in 22 states with an aggregate of
approximately 26,000 licensed beds.
The Company’s headquarters are located in Franklin, Tennessee, a
suburb south of Nashville. Shares in Community Health Systems, Inc.
are traded on the New York Stock Exchange under the symbol
“CYH.”
Forward-Looking Statements
Statements contained in this press release regarding the
proposed transactions and other events are forward-looking
statements that involve risk and uncertainties. Actual future
events or results may differ materially from these statements.
Readers are referred to the documents filed by Community Health
Systems, Inc. with the Securities and Exchange Commission,
including the Company’s annual report on Form 10-K, current reports
on Form 8-K and quarterly reports on Form 10-Q. These filings
identify important risk factors and other uncertainties that could
cause actual results to differ from those contained in the
forward-looking statements. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170316006133/en/
Community Health Systems, Inc.Investor Contacts:W. Larry
Cash, 615-465-7000President of Financial Services and Chief
Financial OfficerorRoss W. Comeaux, 615-465-7012Senior Director –
Investor RelationsorMedia Contact:Tomi Galin,
615-628-6607Senior Vice President, Corporate Communications,
Marketing and Public Affairs
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