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CHS/Community Health Systems Completes $1.033 Billion Senior Secured Notes Offering

07.11.18

Simpson Thacher represented CHS/Community Health Systems, Inc. (the “Company”), a wholly owned subsidiary of Community Health Systems, Inc. (NYSE: CYH), in a Rule 144A/Regulation S offering of approximately $1.033 billion aggregate principal amount of 8.625% Senior Secured Notes due 2024. The net proceeds of this offering, together with cash on hand, were used to repay $1.013 billion aggregate principal amount of term loans and to pay related fees and expenses.

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 and outpatient facilities in communities across the country.

The Simpson Thacher team included Richard Fenyes, Sung Bum Cho, Meaghan Krupa, and Dorothy Hector (Capital Markets); James Cross, Michael Vernace, Leah Nudelman and Sonali Sanyal (Credit); Jonathan Pall (Collateral); Tim Gallagher (Real Estate); Nancy Mehlman, Jon Cantor and Jasmine Hay (Tax); Larry Moss and Jason Fixelle (Executive Compensation and Employee Benefits); Amber Harezlak (Intellectual Property); Nicholas Baker (Bankruptcy). Summer Associate Ben Pittenger provided valuable assistance.