Community Health Systems $1.55 billion repricing launches

By Sara Rosenberg

New York, July 28 - Community Health Systems Inc. launched its repricing of $1.55 billion of bank debt on Wednesday, according to a market source. JPMorgan is the lead bank on the deal.

Under the repricing, the company is looking to lower the interest rate on its $350 million five-year revolver and $1.2 billion seven-year term loan B to Libor plus 175 basis points. The term loan B is currently priced at Libor plus 250 basis points, the source said.

Community Health Systems is a Brentwood, Tenn., provider of general hospital healthcare services.

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