Community Health Systems, Inc. Announces Commencement of Tender Offer for 5.125% Senior Secured Notes Due 2018
05/02/16
The tender offer will expire at
Certain information regarding the 2018 Notes and the terms of the tender offer is summarized in the table below.
Title of Security |
CUSIP and ISIN |
Principal Amount |
Tender Cap |
Total |
Early Tender |
Tender Offer |
||||||||||||||
5.125% Senior Secured Notes due 2018 (“Notes”) |
12543D AR1
US12543DAR17 |
$1,600,000,000 | $900,000,000 | $1,023 | $30 | $993 | ||||||||||||||
(1) |
Per $1,000 principal amount of Notes that are accepted for purchase. |
|||||||||||||||||||
Each holder who validly tenders its 2018 Notes on or prior to
Holders validly tendering, and not validly withdrawing, 2018 Notes after
the Early Tender Deadline and on or before the Expiration Time will be
eligible to receive only the tender offer consideration, which
represents the total consideration less the early tender payment. In
addition, holders whose 2018 Notes are accepted for payment in the
tender offer will receive accrued and unpaid interest from and including
the last interest payment date to, but not including, the applicable
payment date for their 2018 Notes purchased pursuant to the tender
offer. Notes tendered prior to
If the purchase of all validly tendered 2018 Notes would cause us to
purchase a principal amount greater than the tender cap set forth above,
then the tender offer will be oversubscribed and the Issuer, if it
accepts 2018 Notes in the tender offer, will accept for purchase
tendered 2018 Notes on a prorated basis as described in the tender offer
documents. At any time after the Early Tender Deadline and prior to the
Expiration Time (such time, the “Early Acceptance Time”), the Issuer may
elect to accept for purchase 2018 Notes tendered prior to such Early
Acceptance Time on the terms and subject to the conditions of the tender
offer, including any required proration. Payment for any 2018 Notes so
accepted will be made promptly after the Early Acceptance Time, which is
currently expected to occur on
The Issuer’s obligation to accept for purchase, and to pay for, 2018
Notes validly tendered and not validly withdrawn pursuant to the tender
offer is subject to the satisfaction or waiver of certain conditions
described in the tender offer documents. The Issuer intends to finance
the purchase of 2018 Notes in the tender offer and pay related fees and
expenses using a portion of the approximately
The Issuer has retained
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 the solicitation of an offer to sell the 2018 Notes, or any other securities of the Issuer or any other person, nor shall there be any offer or sale of any 2018 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. No recommendation is made as to whether holders of the 2018 Notes should tender their 2018 Notes.
About
The Company’s headquarters are located in
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20160502006320/en/
Source:
Community Health Systems, Inc.
Investors:
W. Larry Cash,
615-465-7000
President of Financial Services and Chief Financial
Officer
or
Media:
Tomi Galin, 615-628-6607
Senior
Vice President, Corporate Communications, Marketing and Public Affairs