CHS/Community Health Systems Completes $700 Million Senior Secured Notes Offering and Concurrent Tender Offer
05.12.25
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Simpson Thacher represented CHS/Community Health Systems, Inc. (the “Company”), a wholly owned subsidiary of Community Health Systems, Inc. (“Community Health Systems”) (NYSE: CYH), in refinancing transactions that included a private placement of $700 million aggregate principal amount of 10.750% Senior Secured Notes due 2033 (the “2033 Notes”) and a tender offer for any and all of its 6.875% Senior Unsecured Notes due 2028 (the “2028 Notes”) (the “Tender Offer”). The Company used the net proceeds from the sale and issuance of the 2033 Notes, together with cash on hand, to redeem all of the Company’s outstanding 8.000% Senior Secured Notes due 2027 and to pay related fees and expenses. The Company used cash on hand to purchase the 2028 Notes validly tendered and not validly withdrawn in the Tender Offer.
Community Health Systems is one of the nation’s largest healthcare companies. Its affiliates are leading providers of healthcare services, developing and operating healthcare delivery systems in 37 distinct markets across 15 states.
The Simpson Thacher team included Richard Fenyes, Lia Toback, Traci Biedermann, Christopher Flynn and Cara Capoccitti (Capital Markets); Jonathan Pall (Collateral); Tim Gallagher (Real Estate); Jon Cantor and Jiha Min (Tax); and Courtney Welshimer and Matthew Richardson (Intellectual Property).