FRANKLIN, Tenn.--(BUSINESS WIRE)--Aug. 17, 2012--
Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today
announced that its wholly-owned subsidiary, CHS/Community Health
Systems, Inc. (the “Issuer”), has completed its offering of $1,600
million aggregate principal amount of 5.125% Senior Secured Notes due
2018 (the “Notes”). The size of the offering was increased by $350
million aggregate principal amount of Notes subsequent to the initial
announcement of the proposed offering.
As previously announced, the Company has used the proceeds of the
offering to prepay a portion of certain term loans outstanding under its
senior credit facilities and to pay related fees and expenses.
The underwriters in connection with the offering were Credit Suisse,
BofA Merrill Lynch, Citigroup, Credit Agricole CIB, Goldman, Sachs &
Co., J.P. Morgan, Morgan Stanley, RBC Capital Markets, SunTrust Robinson
Humphrey, Wells Fargo Securities, Deutsche Bank Securities, Fifth Third
Securities, Inc., Mitsubishi UFJ Securities, Scotiabank and UBS
Investment Bank. The offering was made only by means of a prospectus and
related prospectus supplement, copies of which may be obtained on the
Securities and Exchange Commission’s website at www.sec.gov.
Alternatively, these documents may be obtained from Credit Suisse
Securities (USA) LLC by directing a request to Credit Suisse Securities
(USA) LLC, Document Retention, 11 Madison Avenue, New York, NY 10010, or
by calling (800) 221-1037 (toll-free).
This press release is neither an offer to sell nor a solicitation of
an offer to buy any securities, nor shall there be any offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale would be unlawful. Such an offer can only be made
by delivery of a prospectus and prospectus supplement that have been
filed with the Securities and Exchange Commission.
About Community Health Systems, Inc.
Located in the Nashville, Tennessee, suburb of Franklin, Community
Health Systems, Inc. is one of the largest publicly-traded hospital
companies in the United States and a leading operator of general acute
care hospitals in non-urban and mid-size markets throughout the country.
Through its subsidiaries, the Company currently owns, leases or operates
135 hospitals in 29 states with an aggregate of approximately 20,000
licensed beds. Its hospitals offer a broad range of inpatient and
surgical services, outpatient treatment and skilled nursing care. In
addition, through its subsidiary, Quorum Health Resources, LLC, the
Company provides management and consulting services to non-affiliated
general acute care hospitals located throughout the United States.
Statements contained in this press release regarding the proposed
transactions and other events are forward-looking statements that
involve risk and uncertainties. Actual future events or results may
differ materially from these statements. Readers are referred to the
documents filed by Community Health Systems, Inc. with the Securities
and Exchange Commission, including the Company’s Annual Report on Form
10-K, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.
These filings identify important risk factors and other uncertainties
that could cause actual results to differ from those contained in the
forward-looking statements. The Company undertakes no obligation to
revise or update any forward-looking statements, or to make any other
forward-looking statements, whether as a result of new information,
future events or otherwise.
Source: Community Health Systems, Inc.
Community Health Systems, Inc.
W. Larry Cash, 615-465-7000
Vice President and Chief Financial Officer