Community Health to launch $300 million incremental term loan Monday

By Sara Rosenberg

New York, Nov. 16 - Community Health Systems Inc. is scheduled to hold a lender call on Monday to launch its proposed $300 million incremental term loan, according to a market source.

JPMorgan is the lead bank on the deal.

The incremental term loan is being talked at Libor plus 175 basis points, the source said.

Proceeds would be used to repay borrowings under the company's existing revolving credit facility and for general corporate purposes.

The debt is being obtained under the credit agreement's accordion feature.

Furthermore, the company will explore various amendments to its existing credit agreement.

Community Health is a Brentwood, Tenn., operator of general acute care hospitals in non-urban communities.

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