Community Health to repay $1.02 billion of term loans via new notes

By Tali Rackner

Norfolk, Va., March 7 – Community Health Systems, Inc. plans to repay $1,023,000,000 aggregate principal amount of certain term loans outstanding under its amended and restated credit facility using the proceeds from a new note offering, according to a press release.

The company’s wholly owned subsidiary, CHS/Community Health Systems, Inc. is planning a public offer of $1.75 billion of senior secured notes due 2023.

Proceeds will also be used to purchase any and all of CHS/Community Health’s 5 1/8% senior secured notes due 2018 that are validly tendered and not validly withdrawn in the cash tender offer announced on March 2 and redeem all of the 2018 notes that are not purchased pursuant to the tender offer.

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

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