Community Health Systems, Inc. Announces Increase in Tender Cap for 8.000% Senior Secured Notes Due 2026
11 Diciembre 2023 - 7:15PM
Business Wire
Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today
announced that its wholly owned subsidiary, CHS/Community Health
Systems, Inc. (the “Issuer”), has increased the principal amount of
the Issuer’s approximately $2,101 million aggregate principal
amount outstanding 8.000% Senior Secured Notes due 2026 (the “2026
Notes”) that it can repurchase under its previously announced cash
tender offer (the “Tender Offer”) from $735 million to $985
million, on the terms and subject to the conditions set forth in
the Issuer’s Offer to Purchase dated December 11, 2023 (the “Offer
to Purchase”).
Consistent with amending the Tender Cap, the Issuer has amended
the financing condition of the Tender Offer to provide that the
Issuer’s obligation to accept for purchase, and to pay for, 2026
Notes validly tendered and not validly withdrawn is subject to the
satisfaction or waiver of certain conditions, including, among
other things, the condition that the Issuer has completed a debt
financing on terms and conditions satisfactory to it yielding gross
cash proceeds of $985 million or more.
The complete terms and conditions of the Tender Offer is set
forth in the Offer to Purchase.
The Issuer has retained Citigroup Global Markets Inc. to act as
dealer manager in connection with the Tender Offer. Questions about
the Tender Offer may be directed to Citigroup Global Markets Inc.
at (800) 558-3745 (toll free) or (212) 723-6106 (collect). Copies
of the Tender Offer documents and other related documents may be
obtained from Global Bondholder Services Corporation, the
depositary and information agent for the Tender Offer, at (855)
654-2015 (toll free) or (212) 430-3774 (collect) or email
contact@gbsc-usa.com.
The Tender Offer is being made solely by means of the Tender
Offer documents. Under no circumstances shall this press release
constitute an offer to purchase or sell or the solicitation of an
offer to purchase or sell the 2026 Notes or any other securities of
the Issuer or any other person, nor shall there be any offer or
sale of any 2026 Notes or other securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. In addition, nothing
contained herein constitutes a notice of redemption of the 2026
Notes. No recommendation is made as to whether holders of the 2026
Notes should tender their 2026 Notes.
Forward-Looking Statements
This press release may include information that could constitute
forward-looking statements. 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/20231211754943/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
Community Health Systems (NYSE:CYH)
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