Tender Offer - COMMUNITY HEALTH SYSTEMS INC
Form Type: 8-K
Filing Date: 2025-05-09
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525116904
Filing Summary: On May 9, 2025, Community Health Systems, Inc. (the Company) announced the successful completion of the issuance of $700 million in 10.750% Senior Secured Notes due 2033 by its wholly owned subsidiary, CHS/Community Health Systems, Inc. The proceeds were utilized to redeem nearly all of the outstanding 8.000% Senior Secured Notes due 2027. The 2033 Notes feature a semi-annual interest payment structure and are secured by specific collateral with first and second-priority liens. In conjunction with this, the Company entered into a Supplemental Indenture on May 8, 2025, modifying the covenants associated with their 6.875% Senior Unsecured Notes due 2028, significantly reducing restrictions on indebtedness and transactions, and requiring holders to consent to these amendments through a tender offer. The Consent Solicitation received the necessary approvals before the outlined deadline. This financial maneuver illustrates the organization’s strategic adjustments to its debt structure while engaging with its noteholders in a significant consolidation effort.
Additional details:
2033 Notes Amount: 700000000
2033 Notes Interest Rate: 10.750%
Redeemed Notes Amount: 699924000
Redeemed Notes Interest Rate: 8.000%
2028 Notes Amendments: elimination of restrictive covenants and events of default
Consent Solicitation Deadline: 2025-05-06
Form Type: 8-K
Filing Date: 2025-05-07
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525114923
Filing Summary: On May 7, 2025, Community Health Systems, Inc. announced the early results of a cash tender offer and related consent solicitation by its wholly owned subsidiary, CHS/Community Health Systems, Inc., for its 6.875% Senior Unsecured Notes due 2028. As of the Early Tender Deadline on May 6, 2025, approximately 93.32% of the outstanding Notes, amounting to $584,101,000 in aggregate principal, had been validly tendered and not withdrawn. The payment for the accepted Notes is anticipated to occur on May 8, 2025. Additionally, the requisite consent for amendments related to the Notes was received, enabling the Issuer and the trustee to enter into a supplemental indenture concurrently with the Early Settlement Date.
Additional details:
Early Tender Deadline: 2025-05-06
Tender Offer Amount: 584101000
Tender Offer Percent: 93.32
Early Settlement Date: 2025-05-08
Form Type: 8-K
Filing Date: 2025-04-23
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525091452
Filing Summary: On April 23, 2025, Community Health Systems, Inc. announced the commencement of a cash tender offer and a related consent solicitation for all outstanding 6.875% Senior Unsecured Notes due 2028. This action is being undertaken by its wholly owned subsidiary, CHS/Community Health Systems, Inc. A press release regarding this announcement is attached as Exhibit 99.1.
Additional details:
Item: cash_tender_offer
Item: consent_solicitation
Item: notes_due_2028
Comments
No comments yet. Be the first to comment!