After receiving commitments for $1.5 billion in new credit facilities, Franklin, Tenn.-based Community Health Systems and its subsidiary CHS/Community Health Systems announced their intent to offer $1 billion of senior notes.
The net proceeds of the offering will go toward the purchase of up to $850 million of CHS' $1.78 billion in outstanding 8.875 percent senior notes due 2015. Previously, the tender cap for this offering was $700 million.
The sale of the notes is expected to close around March 21 and is expected to pay related fees and expenses and be used toward "general corporate purposes."
The net proceeds of the offering will go toward the purchase of up to $850 million of CHS' $1.78 billion in outstanding 8.875 percent senior notes due 2015. Previously, the tender cap for this offering was $700 million.
The sale of the notes is expected to close around March 21 and is expected to pay related fees and expenses and be used toward "general corporate purposes."
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