Community Health Systems plans $1.24 billion senior secured debt exchange
CYH•Community Health Systems proposed exchanging $1.24 billion of 6.88% Junior-Priority Secured Notes due 2029 for new 10.25% Senior Secured Notes due January 15, 2035. Holders of about 52%, or $643.7 million, have committed to participate.
1. Exchange terms
The offer provides $1,000 in principal of new notes for each $1,000 of old notes tendered by November 23, 2026, including a $30 early premium. Later tenders receive $970 in new-note principal per $1,000 tendered; the offer expires December 10, 2026. A concurrent consent solicitation seeks to eliminate substantially all restrictive covenants and certain default provisions governing the old notes.
