Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today
announced the completion of the previously announced cash tender offer
by its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the
“Issuer”), for any and all of the Issuer’s outstanding 5.125% Senior
Secured Notes due 2018 (the “2018 Notes”). The tender offer expired at
11:59 p.m., New York City time, on March 29, 2017.
As previously announced, as of the early tender deadline of 5:00 p.m.,
New York City time, on March 15, 2017 (the “Early Tender Deadline”),
$469,480,000 in aggregate principal amount, or approximately 67.07
percent, of the outstanding 2018 Notes had been validly tendered and not
withdrawn. All 2018 Notes validly tendered and not withdrawn by the
Early Tender Deadline were accepted for purchase by the Issuer. Payment
for the 2018 Notes accepted for purchase on the Early Tender Deadline
was made on March 16, 2017. No holders tendered 2018 Notes after the
Early Tender Deadline.
The Issuer retained Credit Suisse Securities (USA) LLC, BofA Merrill
Lynch and J.P. Morgan Securities LLC to act as dealer managers in
connection with the tender offer. Questions about the tender offer may
be directed to Credit Suisse Securities (USA) LLC at (800) 820-1653
(toll free) or (212) 538-2147 (collect). Copies of the tender offer
documents and other related documents may be obtained from D.F. King &
Co., Inc., the tender agent and information agent for the tender offer,
at (888) 886-4425 (toll free) or (212) 269-5550 (collect) or email firstname.lastname@example.org.
The tender offer was 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 was made as to whether
holders of the 2018 Notes should tender their 2018 Notes.
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.
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