Community Health conducts uncapped tender offer for 6¼% notes due 2023

Chicago, Dec. 11 – Community Health Systems, Inc. said its subsidiary CHS/Community Health Systems, Inc. has offered to purchase its $2,674,500,000 outstanding 6¼% senior secured notes due 2023 (Cusip: 12543DAY6), according to an 8-K filing with the Securities and Exchange Commission and a press release.

The offer was launched with a $1 billion cap. However, after Community Health priced an upsized offer of $2.8 billion of new notes on Friday, the issuer announced that the cap had been removed from the offer.

Community Health is offering $1,031.25 per $1,000 principal amount of notes, which includes a $30.00 early tender payment for notes tendered by the 5 p.m. ET on Dec. 24 early tender deadline. Noteholders who tender their notes after the early tender deadline but before the offer expiration at 11:59 p.m. ET on Jan. 11 will receive $1,001,25 per $1,000 of notes. Interest will also be paid.

Notes may be withdrawn at any time prior to the early tender deadline but not afterward.

The offer is conditioned upon the completion of the debt offering mentioned above.

Citigroup Global Markets Inc. is the dealer manager for the tender offer. (800 558-3745 or (212 723-6106 (collect).

Global Bondholder Services Corp. is the depositary and information agent (866 470-3800 or 212 430-3774, collect or contact@gbsc-usa.com).

Community Health is a Franklin, Tenn., hospital company.

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