CHS to price $1.02 billion five-year secured notes on Thursday

By Paul A. Harris

Portland, Ore., Jan. 23 – CHS/Community Health Systems Inc. plans to price a $1.02 billion offering of five-year senior secured notes in a quick-to-market Thursday trade following a mid-morning conference call with investors, according to a syndicate source.

Credit Suisse Securities (USA) LLC is the left lead bookrunner for the Rule 144A and Regulation S offering. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Securities Inc., Capital One Securities Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The notes come with two years of call protection and feature a two-year 40% equity clawback and a 101% poison put.

The Franklin, Tenn.-based publicly traded hospital company plans to use the proceeds to refinance the FWCT-2 Escrow Corp./Community Health Systems Inc. 5 1/8% senior secured notes due 2021.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.