FRANKLIN, Tenn.--(BUSINESS WIRE)--Mar. 7, 2017--
Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today
announced that its wholly owned subsidiary CHS/Community Health Systems,
Inc. (the “Issuer”) intends to offer (the “offering”) $1,750,000,000
aggregate principal amount of Senior Secured Notes due 2023, subject to
market and other conditions. The offering will be made by means of an
underwritten public offering pursuant to an automatic shelf registration
statement filed with the Securities and Exchange Commission. 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that are validly tendered and not validly withdrawn in the cash tender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 and to repay $1.023
billion aggregate principal amount of certain term loans outstanding
under its amended and restated credit facility.
The underwriters in connection with the offering are Credit Suisse
Securities (USA) LLC, BofA Merrill Lynch, 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 will be 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
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.”
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170307005840/en/
Source: Community Health Systems, Inc.
Community Health Systems, Inc.
Larry Cash, 615-465-7000
President of Financial Services and Chief
Ross W. Comeaux, 615-465-7012
Director – Investor Relations
Senior Vice President, Corporate
Communications, Marketing and Public Affairs