Community Health Sys Inc Stock Price, News & Analysis

Community Health Systems announced an amendment to its cash tender offer for Junior-Priority Secured Notes due 2023, increasing the tender offer consideration from $1,035.00 to $1,044.06 per $1,000 principal amount. The tender cap has been removed, allowing the purchase of any outstanding notes. The total consideration for notes validly tendered by February 1, 2021, is now $1,074.06. The offer is conditioned on raising at least $1,768,697,000 through debt financing. A conditional notice for redemption on February 4, 2021, reflects a price of 107.406% plus accrued interest.

Community Health Systems announced a $1.775 billion offering of 6.875% Junior-Priority Secured Notes due 2029. The offering size increased by $1.025 billion. Proceeds will be used to repurchase outstanding Junior-Priority Secured Notes due 2023 and cover related expenses. The Notes are offered to qualified institutional buyers under Rule 144A and Regulation S of the Securities Act. The closing is anticipated on February 2, 2021, pending customary conditions.

Community Health Systems announced a cash tender offer for up to $750 million of its Junior-Priority Secured Notes due 2023. This offer targets approximately $1,769 million of outstanding notes and will expire on February 16, 2021, unless extended. Holders tendering their notes by February 1, 2021, may receive an early tender payment of $30.00 per $1,000 principal amount. The offer is contingent upon completing a debt financing yielding at least $750 million. Credit Suisse is the dealer manager for this transaction.

Community Health Systems (NYSE: CYH) plans to offer $750 million in Junior-Priority Secured Notes due 2029. The net proceeds will be used to repurchase up to $750 million of its 2023 Junior-Priority Secured Notes and cover related expenses. The offering targets qualified institutional buyers under Rule 144A and is subject to market conditions. The Notes will not be registered under the Securities Act, thus limiting their sale within the U.S. The press release contains forward-looking statements with associated risks and uncertainties.

Community Health Systems, Inc. (NYSE: CYH) will participate in the 39^th Annual J.P. Morgan Healthcare Conference from January 11 to 14, 2021. The investor presentation is scheduled for January 14, 2021, at 4:30 p.m. ET, accessible via a live audio webcast on the company's investor relations website. Community Health Systems operates 86 hospitals across 16 states, with around 14,000 licensed beds. Headquartered in Franklin, Tennessee, it is a leading operator of acute care hospitals in the U.S.

Community Health Systems (NYSE: CYH) announced early tender results for its cash tender offer for outstanding 6.250% Senior Secured Notes due 2023. By the December 24, 2020 deadline, approximately 96.43% of the $2.674 billion outstanding notes, totaling $2.579 billion, were tendered and accepted. The settlement date for these notes is scheduled for December 28, 2020. The company plans to redeem any notes not purchased in the tender offer at a price of 103.125% of their principal amount on January 28, 2021.

Community Health Systems (NYSE: CYH) announced a significant pricing for its debt offering, totaling $2.8 billion in Senior Secured Notes. This includes $1.9 billion of 5.625% Notes due in 2027 and $0.9 billion of 6.000% Notes due in 2029, with the offering expected to finalize on December 28, 2020. The raised amount exceeded initial targets by $1.75 billion. Proceeds from the offering will be used primarily to repurchase existing 6.250% Senior Secured Notes due in 2023, aligning with the company's financial strategy.

Community Health Systems (CYH) has amended its cash tender offer for its 6.250% Senior Secured Notes due 2023. The new terms eliminate the $1 billion cap on purchases, allowing for any and all 2023 Notes to be acquired. This offer will be funded using proceeds from an upsized senior secured notes offering, increased from $1.05 billion to $2.8 billion. The acceptance of tendered notes remains conditioned upon the completion of sufficient debt financing.

Community Health Systems (NYSE: CYH) announced a planned offering of $1.050 billion in Senior Secured Notes due 2027. The funds will primarily be used to repurchase or redeem $1.0 billion of its 6.250% Senior Secured Notes due 2023. The offering targets qualified institutional buyers under Rule 144A and Regulation S of the Securities Act. The press release does not constitute an offer to sell or a solicitation to buy securities. It also includes forward-looking statements, highlighting potential risks and uncertainties.