Community Health Systems, Franklin, Tenn., has completed a debt exchange that will allow wider trading for its 8% senior notes due in 2019.
The new notes will be registered with the Securities and Exchange Commission and not be subject to transfer restrictions and registration rights, according to a news release
. Otherwise, the size, interest rate and maturity of the debt remain the same.
CHS exchanged $1.999 billion, or 99.99% of its existing 8% senior notes due 2019 for the new debt. The system originally issued $2 billion worth of notes in November and March in two equally sized private placements to institutional buyers and buyers outside the U.S.