Community Health to pay down revolver with equity offering proceeds

By Wendy Van Sickle

Columbus, Ohio, July 18 – Community Health Systems, Inc. plans to repay borrowings under its revolving credit facility with some proceeds of an offering of 4.25 million shares of its common stock, according to a press release.

The company also plans to use proceeds to fund future acquisitions and for general corporate and working capital purposes.

Sandler O'Neill + Partners, LP, Evercore ISI and SunTrust Robinson Humphrey Inc. are acting as joint bookrunning managers for the offering.

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

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