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Community Health eyes calling all $121 million 7 1/8% notes due 2020
By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – Community Health Systems, Inc. subsidiary CHS/Community Health Systems, Inc. plans to redeem all $121 million of its outstanding 7 1/8% senior notes due May 15, 2020 ahead of their maturity date with some proceeds of a $500 million tack-on offering of 8% senior secured notes due 2027, according to a news release.
The notes would be redeemed at par plus accrued interest to but excluding the settlement date.
The issuer has received, for no consideration, a waiver from requisite holders of each series of its junior-priority secured notes to waive any limitation in the indentures governing those notes on using proceeds of new notes to redeem the 2020 notes prior to their maturity.
Community Health is a Franklin, Tenn., hospital company.
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