Loan & DebtMay 6, 2026, 04:10 PM
Community Health Systems Tender Offer Accepts $599.3M Senior Secured Notes
AI Summary
Community Health Systems, Inc. announced the early tender results for its cash tender offer to purchase up to $600,000,000 of its 4.750% Senior Secured Notes due 2031 and 10.875% Senior Secured Notes due 2032. As of the early tender date, $994.8 million of 2031 Notes and $822 million of 2032 Notes were validly tendered. The company accepted $368.4 million of 2031 Notes and $230.9 million of 2032 Notes for purchase, reaching the aggregate maximum purchase amount. Consequently, no notes tendered after the early tender date will be accepted.
Key Highlights
- Tender offer for up to $600,000,000 aggregate purchase price of 2031 and 2032 Senior Secured Notes.
- Approximately $994,822,000 (94.05%) of 2031 Notes were validly tendered.
- Approximately $822,029,000 (46.18%) of 2032 Notes were validly tendered.
- Accepted $368,421,000 aggregate principal amount of 2031 Notes with a 37.07% proration factor.
- Accepted $230,946,000 aggregate principal amount of 2032 Notes with a 28.14% proration factor.
- The aggregate maximum purchase amount was reached, so no notes tendered after the early tender date will be accepted.
- Early Settlement Date for accepted notes is expected to be May 7, 2026.