The for-profit healthcare operator will offer investors senior secured notes due in 2031. The proceeds will be used to help redeem all of its outstanding 8.625 percent senior secured notes that are due in 2024.
This is the second bond offering announced by CHS in January. CHS launched and priced a $1.78 billion high-yield bond Jan. 19. Those bonds are 6.88 percent junior-priority secured notes due in 2029. The proceeds from the bonds will be used to pay back $1.77 billion of 9.88 percent junior-priority secured notes that matured in 2023.
Despite the COVID-19 pandemic, the bond markets have performed well, according to investment service firm Charles Scwab.
More articles on healthcare finance:
‘Tumultuous’ year for hospitals results in 55% drop in median operating margin, Kaufman Hall finds
US hospitals lost $22.3B delaying elective surgeries, study estimates
30% of hospitals require 2 or more RCM vendors for automation, study finds
