Community Health commences cash tender offer for $1 billion of its 8 7/8% notes due 2015

By Tali David

Minneapolis, Nov. 8 - Community Health Systems, Inc. announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc., has commenced a cash tender offer for up to $1 billion of its $2.8 billion in principal amount of its 8⅞% senior notes due 2015.

The offer will expire at midnight ET on Dec. 6, unless extended or earlier terminated by the issuer.

Each holder who validly tenders notes on or before 5 p.m. ET on Nov. 21 will be entitled to an early tender payment, which is $30 for each $1,000 principal amount of notes validly tendered by such holder if the notes are accepted for purchase.

Community Health Systems is a Franklin, Tenn.-based publicly traded hospital company and operator of general acute care.

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