Simpson Thacher represented CHS/Community Health Systems, Inc. (the “Company”), a wholly owned subsidiary of Community Health Systems, Inc. (NYSE: CYH), in refinancing transactions that included (1) a Rule 144A/Regulation S offering of approximately $1.46 billion aggregate principal amount of 6.625% Senior Secured Notes due 2025 (the “Notes”) and (2) a concurrent tender offer for its 5.125% Senior Secured Notes due 2021 (the “2021 Notes”). The Company intends to use the net proceeds of the offering of Notes to (i) purchase any and all of its 2021 Notes validly tendered and not validly withdrawn in the concurrent tender offer, (ii) redeem all of the 2021 Notes that are not purchased pursuant to such tender offer, (iii) purchase in one or more privately negotiated transactions or redeem a portion of its 6.25% Senior Secured Notes due 2023 and (iv) 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, Lia Toback, Evan Zuckerman, Della Fok and Xochitl Romo (Capital Markets); James Cross and Leah Nudelman (Credit); Jonathan Pall (Collateral); Tim Gallagher (Real Estate); Nancy Mehlman, Jon Cantor and Gal Shemer (Tax); Larry Moss and Jason Fixelle (Executive Compensation and Employee Benefits); and Alysha Sekhon (Intellectual Property).