Health & Fitness
Fri, May 25, 2012
FRANKLIN, Tenn.--([ BUSINESS WIRE ])--CHS/Community Health Systems, Inc. (aCHS/CHSa), a direct, wholly-owned subsidiary of Community Health Systems, Inc. (NYSE: CYH) today announced the completion of an offer to exchange its 8.00% Senior Notes due 2019, in the aggregate principal amount of $2,000,000,000 consisting of (i) $1,000,000,000 aggregate principal amount of 8.00% Senior Notes due 2019 issued on November 22, 2011 (the aExisting Notesa), and (ii) $1,000,000,000 aggregate principal amount of 8.00% Senior Notes due 2019 issued on March 21, 2012, as additional notes under the indenture governing the Existing Notes (the aAdd-On Notesa and, together with the Existing Notes, the aNotesa) in exchange for up to $2,000,000,000 in aggregate principal amount of 8.00% Senior Notes due 2019, which have been registered under the Securities Act of 1933, as amended (the aExchange Notesa). The exchange offer expired at 11:59p.m. (New York City time) on May 24, 2012 (the aExpiration Datea).
Approximately $1,999,000,000 in aggregate principal amount (or 99.99%) of the outstanding Notes, originally issued and sold in a private placement to qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S, were tendered upon closing of the exchange offer. The following table sets forth the outstanding principal amount of Notes, the principal amount that had been tendered and not withdrawn as of the Expiration Date and the aggregate principal amount accepted for purchase:
| Title of Security | CUSIP and | Principal | Principal Amount | Aggregate Principal | ||||||||
U17127 AE8 | $1,210,000 | $1,210,000 |
| |||||||||
8.00% Senior Notes | 12543D AN0 | $998,790,000 | $998,790,000 | |||||||||
due 2019 | U17127 AD0 | $1,625,000 | $1,625,000 | $1,998,825,000 | ||||||||
(aNotesa) | 12543D AK6 | $998,375,000 | $997,200,000 | |||||||||
The Exchange Notes are identical in all material respects to the existing Notes, except that the Exchange Notes have been registered with the Securities and Exchange Commission and not subject to the transfer restrictions and registration rights that related to the existing Notes. The existing Notes which were not tendered upon closing of the exchange offer will remain subject to such transfer restrictions and registration rights. The Exchange Notes were issued under CUSIP number 12543D AL4.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any existing Notes or any other security, and shall not constitute an offer, solicitation or sale in any jurisdiction in which or to any persons to whom such offering, solicitation or sale would be unlawful.
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 134 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. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol aCYH.a
Forward-Looking Statements
Statements contained in this press release which are not historical facts are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. Actual future events or results may differ materially from these statements. Readers are referred to the documents filed by the Company with the Securities and Exchange Commission, specifically the most recent filings which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including execution of our growth, acquisition, and business strategies. These and other applicable risks are summarized under the caption arisk factorsa in the Companyas Securities and Exchange Commission filings. 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.