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FRANKLIN, Tenn., May 07, 2025--(BUSINESS WIRE)--Community Health Systems, Inc. (the "Company") (NYSE: CYH) announced today the early tender results of the previously announced cash tender offer (the "Tender Offer") by its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the "Issuer"), to purchase for cash any and all of the Issuer’s outstanding 6.875% Senior Unsecured Notes due 2028 (the "Notes"), on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated April 23, 2025 (the "Offer to Purchase"). According to Global Bondholder Services Corporation, the depositary and information agent for the Tender Offer and Consent Solicitation (as defined below), as of 5:00 p.m., New York City time, on May 6, 2025 (the "Early Tender Deadline"), $584,101,000 aggregate principal amount, or approximately 93.32%, of the outstanding Notes were validly tendered and not validly withdrawn. All of the Notes validly tendered and not validly withdrawn by the Early Tender Deadline were accepted for purchase by the Issuer.
The table below identifies the aggregate principal amount of Notes validly tendered and not validly withdrawn as of the Early Tender Deadline and accepted for purchase by the Issuer, and the aggregate principal amount of Notes that will remain outstanding on the Early Settlement Date (as defined below).
| CUSIP / ISIN No.(1) | Title of Security | Aggregate Principal Amount Outstanding (2) | Aggregate Principal Amount Tendered as of the Early Tender Deadline and Accepted for Purchase | Aggregate Principal Amount Remaining Outstanding |
| 144A: 12543DBE9 / US12543DBE94 Reg. S: U17127AP3 / USU17127AP30 | 6.875% Senior Unsecured Notes due 2028 | $625,885,000 | $584,101,000 | $41,784,000 |
(1) CUSIP/ISIN information is provided for the convenience of holders of Notes. No representation is made as to the correctness or accuracy of such numbers.
(2) Aggregate principal amount outstanding as of April 23, 2025.
The settlement date for Notes accepted for purchase as of the Early Tender Deadline is expected to occur on May 8, 2025 (the "Early Settlement Date"). The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on May 21, 2025, unless extended or earlier terminated by the Issuer.
The withdrawal deadline for the Tender Offer was 5:00 p.m., New York City time, on May 6, 2025 and has not been extended. Accordingly, previously tendered Notes may not be withdrawn, subject to applicable law.
As part of the Tender Offer, the Issuer also solicited consents (the "Consent Solicitation") from the holders of the Notes for certain proposed amendments (the "Proposed Amendments") as set forth in the Offer to Purchase that would, among other things, eliminate substantially all restrictive covenants, certain events of default and certain other provisions contained in the indenture governing the Notes (the "Notes Indenture"). Adoption of the Proposed Amendments requires the consent from at least a majority of the outstanding principal amount of Notes (the "Requisite Consent"). As of the Early Tender Deadline, the Issuer has received the Requisite Consent from the holders of the Notes to adopt the Proposed Amendments. As a result, the Issuer and the trustee under the Notes Indenture will enter into a supplemental indenture substantially concurrently with the Early Settlement Date to effect the Proposed Amendments.