Community Health Systems, Franklin, Tenn., has completed its previously announced sale of $1 billion in notes due in 2019, according to a news release.
CHS sells $1 billion in notes
The notes carry an interest rate of 8%. The proceeds from the sale will be used to pay off up to $1 billion in notes due in 2015. Investors holding $2.52 billion of the 2015 notes accepted Community's tender offer, which was limited to $1 billion, according to a news release. A total of $2.8 billion of the 2015 notes, which carry an interest rate of 8.875%, were outstanding before the tender offer was made.
Yesterday, two other investor-owned chains completed debt-financing moves. Health Management Associates, Naples, Fla., completed a $3.5 billion refinancing package. Tenet Healthcare Corp., Dallas, completed the sale of $900 million in notes.
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