This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Community Health Systems, Inc. Announces Completion Of Tender Offers For Health Management Associates, Inc.’s 6.125% Senior Notes Due 2016 And 7.375% Senior Notes Due 2020

Stocks in this article: CYH

Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today announced the completion of the previously announced cash tender offers by its wholly owned subsidiary, Health Management Associates, Inc. (the “Issuer”), for any and all of the Issuer’s $400 million aggregate principal amount of 6.125% Senior Notes due 2016 (CUSIP No. 421933AH5) (the “2016 Notes”) and $875 million aggregate principal amount of 7.375% Senior Notes due 2020 (CUSIP No. 421933AL6) (the “2020 Notes” and, together with the 2016 Notes, the “Notes”) then outstanding. The tender offers expired at 11:59 p.m., New York City time, on February 6, 2014 (the “Expiration Time”).

As previously announced, as of 5:00 p.m., New York City time, on January 23, 2014 (the “Consent Expiration”), $370,288,000 aggregate principal amount, or approximately 92.6%, of the outstanding 2016 Notes and $854,088,000 aggregate principal amount, or approximately 97.6%, of the outstanding 2020 Notes had been validly tendered and not withdrawn and the holders thereof consented to the proposed amendments to the indentures governing the Notes (the “Indentures”) set forth in an Offer to Purchase and Consent Solicitation Statement (the “Offer to Purchase”) that was sent to holders of the Notes. The Issuer accepted for purchase all Notes that had been validly tendered and not withdrawn. Payment for Notes accepted for purchase at the Consent Expiration was made on January 27, 2014, and the proposed amendments referred to above became operative on January 27, 2014.

An additional $20,000 aggregate principal amount of the outstanding 2016 Notes were validly tendered and not withdrawn after the Consent Expiration and prior to the Expiration Time. No additional 2020 Notes were tendered after the Consent Expiration and prior to the Expiration Time. Holders who validly tendered (and did not subsequently withdraw) their 2016 Notes after the Consent Expiration and prior to the Expiration Time are entitled to receive consideration equal to $1,088.13 per $1,000 principal amount of the 2016 Notes. These holders will also receive accrued and unpaid interest on the 2016 Notes up to, but not including, the payment date for such 2016 Notes accepted for purchase, which is expected to be February 7, 2014.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs