COMMUNITY HEALTH : ANNOUNCES PRICING OF SENIOR SECURED NOTES DUE 2030 - Form 8-K
January 20, 2022 at 10:32 pm
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COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES
PRICING OF SENIOR SECURED NOTES DUE 2030
FRANKLIN, Tenn. (January 20, 2022) - 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 $1,535.0 million aggregate principal amount of its 5.250%Senior Secured Notes due 2030 (the "Notes") (the "Notes Offering"). The sale of the Notes is expected to be consummated on or about February 4, 2022, subject to customary closing conditions.
The Issuer intends to use the net proceeds of the Notes Offering to redeem all of its outstanding 6.625% Senior Secured Notes due 2025 (the "2025 Notes") and to pay related fees and expenses. This press release shall not constitute a notice of redemption for the 2025 Notes.
The 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 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.
Investor Contacts:
Kevin J. Hammons, 615-465 7000
President and Chief Financial Officer
or
Ross W. Comeaux, 615-465-7012
Vice President - Investor Relations
Media Contact:
Tomi Galin, 615-628-6607
Executive Vice President, Corporate Communications, Marketing and Public Affairs
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CHS - Community Health Systems Inc. published this content on 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 22:31:06 UTC.
Community Health Systems, Inc. is a healthcare company. The Company, through its subsidiaries, owns or leases over 71 affiliated hospitals, with approximately 12,000 beds, and operate more than 1,000 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers. The Company, through its affiliates, providers of healthcare services, develops and operating healthcare delivery systems in over 40 distinct markets across 15 states. Its hospitals are general care hospitals offering a range of inpatient and outpatient medical services. These services generally include general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric and rehabilitation services. In addition, some of its hospitals provide skilled nursing and home care services based on individual community needs.