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Community Health Systems, Inc. Announces Commencement of Tender Offer for 5.125% Senior Secured Notes Due 2018

FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the “Issuer”), has commenced a cash tender offer for up to $900.0 million of the Issuer’s approximately $1.6 billion aggregate principal amount outstanding of its 5.125% Senior Secured Notes due 2018 (the “2018 Notes”) on the terms and subject to the conditions set forth in the Issuer’s Offer to Purchase dated May 2, 2016.

$CYH COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES COMMENCEMENT OF TENDER OFFER FOR 5.125% SENIOR SECURED NOTES DUE 2018

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The tender offer will expire at 5:00 p.m., New York City time, on May 31, 2016 (the “Expiration Time”), unless extended or earlier terminated by the Issuer. The Issuer reserves the right to terminate, withdraw, or amend the tender offer at any time subject to applicable law.

Certain information regarding the 2018 Notes and the terms of the tender offer is summarized in the table below.

Title of Security

CUSIP and ISIN
Numbers

Principal Amount
Outstanding

Tender Cap

Total
Consideration1

Early Tender
Payment1

Tender Offer
Consideration1

5.125% Senior Secured Notes due 2018 (“Notes”) 12543D AR1

US12543DAR17

$1,600,000,000 $900,000,000 $1,023 $30 $993

(1)

Per $1,000 principal amount of Notes that are accepted for purchase.

Each holder who validly tenders its 2018 Notes on or prior to 5:00 p.m., New York City time, on May 13, 2016 (the “Early Tender Deadline”) will be entitled to an early tender payment, which is included in the total consideration above, of $30 for each $1,000 principal amount of 2018 Notes validly tendered by such holder if such 2018 Notes are accepted for purchase pursuant to the tender offer.

Holders validly tendering, and not validly withdrawing, 2018 Notes after the Early Tender Deadline and on or before the Expiration Time will be eligible to receive only the tender offer consideration, which represents the total consideration less the early tender payment. In addition, holders whose 2018 Notes are accepted for payment in the tender offer will receive accrued and unpaid interest from and including the last...


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