Community Health to start roadshow Monday for $3.365 billion notes in three parts

By Paul A. Harris

St. Louis, June 13 - Community Health Systems Inc. will begin a roadshow on Monday for its $3.365 billion three-part offering of senior notes (B3/B-), according to an informed source.

The deal is expected to price in the middle of the following week.

The Nashville, Tenn., operator of acute care hospitals is offering tranches of eight-year floating-rate notes, which come with two years of call protection, eight-year fixed-rate notes, which come with four years of call protection, and 10-year fixed-rate notes, which come with five years of call protection.

Tranche sizes remain to be determined.

Credit Suisse and Wachovia Securities are the underwriters of the notes, which are being offered via Rule 144A with registration rights.

Proceeds will be used to help fund the acquisition of Triad Hospitals Inc.

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