Community Health Systems’ $1.033 Billion Senior Secured Notes Offering


Simpson Thacher represented CHS/Community Health Systems, Inc. (the “Company”), a wholly owned subsidiary of Community Health Systems, Inc. (NYSE: CYH), in a Rule 144A/Regulation S offering of approximately $1.033 billion aggregate principal amount of 8.625% Senior Secured Notes due 2024.

The net proceeds of this offering, together with cash on hand, were used to repay $1.013 billion aggregate principal amount of term loans and to pay related fees and expenses.

Community Health Systems, Inc. is one of the largest publicly traded hospital companies in the United States and a leading operator of general acute care hospitals and outpatient facilities in communities across the country.

The Simpson Thacher team included Richard Fenyes (Picture), Sung Bum Cho, Meaghan Krupa, and Dorothy Hector (Capital Markets); James Cross, Michael Vernace, Leah Nudelman and Sonali Sanyal (Credit); Jonathan Pall (Collateral); Tim Gallagher (Real Estate); Nancy Mehlman, Jon Cantor and Jasmine Hay (Tax); Larry Moss and Jason Fixelle (Executive Compensation and Employee Benefits); Amber Harezlak (Intellectual Property); Michael Torkin and Nicholas Baker (Bankruptcy). Summer Associate Ben Pittenger provided valuable assistance.

Involved fees earner: Richard Fenyes – Simpson Thacher & Bartlett; Sung Bum Cho – Simpson Thacher & Bartlett; Meaghan Krupa – Simpson Thacher & Bartlett; Dorothy Hector – Simpson Thacher & Bartlett; James Cross – Simpson Thacher & Bartlett; Michael Vernace – Simpson Thacher & Bartlett; Leah Nudelman – Simpson Thacher & Bartlett; Sonali Sanyal – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Jasmine Hay – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Jason Fixelle – Simpson Thacher & Bartlett; Amber Harezlak – Simpson Thacher & Bartlett; Michael Torkin – Simpson Thacher & Bartlett; Nicholas Baker – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Community Health Systems, Inc. ;

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Author: Ambrogio Visconti