CHS/Community Health Systems Completes $3.125 Billion Exchange Offers
07.11.18
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Simpson Thacher represented CHS/Community Health Systems, Inc., a wholly owned subsidiary of Community Health Systems, Inc. (NYSE: CYH), in exchange offers in which $3.125 billion of new notes comprised $1.77 billion of Junior-Priority Secured Notes due 2023 and $1.355 billion of 8.125% Junior-Priority Secured Notes due 2024 were issued in exchange for $1.77 billion of outstanding 8% Senior Unsecured Notes due 2019, $1.079 billion of 7.125% Senior Unsecured Notes due 2020 and $368 million of 6.875% Senior Unsecured Notes due 2022.
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, Lia Toback, Meaghan Krupa, Ashley Yoon 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 also provided valuable assistance.