Community Health Systems, Inc. Announces Offering of $750.0 Million of Senior Secured Notes Due 2032

Rhea-AI Summary

Community Health Systems, Inc. (NYSE: CYH) plans to offer $750.0 million aggregate principal amount of Senior Secured Notes due 2032 to refinance a portion of its outstanding 8.000% Senior Secured Notes due 2026. The Notes will be offered to qualified institutional buyers in the United States and outside the United States. This is not an offer to sell nor a solicitation of an offer to buy any securities.

FRANKLIN, Tenn.--(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 $750.0 million aggregate principal amount of Senior Secured Notes due 2032 (the “Notes”), subject to market and other conditions (the “Notes Offering”).

The Issuer intends to use the net proceeds of the Notes Offering to refinance a portion of its outstanding 8.000% Senior Secured Notes due 2026 (the “2026 Notes”) through privately negotiated transactions, a tender offer and/or a redemption. This press release shall not constitute an offer to repurchase any 2026 Notes.

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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231210562481/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

Source: Community Health Systems, Inc.

FAQ

What is Community Health Systems, Inc.'s ticker symbol?

The ticker symbol for Community Health Systems, Inc. is CYH.

What is the purpose of the Notes Offering by Community Health Systems, Inc.?

The company intends to offer $750.0 million aggregate principal amount of Senior Secured Notes due 2032 to refinance a portion of its outstanding 8.000% Senior Secured Notes due 2026.

Who are the intended buyers of the Notes offered by Community Health Systems, Inc.?

The Notes will be offered to qualified institutional buyers in the United States and outside the United States.

Are the Notes being offered registered under the Securities Act?

No, 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.

What is the purpose of the private offering memorandum for the Notes?

Any offers of the Notes will be made only by means of a private offering memorandum.

Is this press release an offer to repurchase any 2026 Notes?

No, this press release shall not constitute an offer to repurchase any 2026 Notes.