Community Health Systems Completes $700 Million Privately Negotiated Exchange Offer
12.10.20
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Simpson Thacher represented Community Health Systems, Inc. (the “Company”) (NYSE: CYH) in a privately negotiated agreement with a multi-asset investment manager to exchange $700 million aggregate principal amount of 6.875% Senior Unsecured Notes due 2028 issued by CHS/Community Health Systems, Inc., a wholly owned subsidiary of the Company, for aggregate consideration of $400 million of cash and 10 million newly issued shares of the Company’s common stock. The shares were issued pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, provided by Section 3(a)(9) thereof.
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 and Pia Figuerola (Capital Markets); and Nancy Mehlman, Jon Cantor, Eli Shalam and Suzy Yaster (Tax).