Community Health's (CYH) wholly-owned arm exhibits monetary discretion by issuing notes to procure funds.

Community Health Systems, Inc. (the "Company") (NYSE: CYH) today announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the "Issuer"), amended the terms of its previously announced cash tender offer (the "Tender Offer") for its outstanding Junior-Priority Secured Notes due 2023 (the "2023 Junior-Priority Secured Notes") to (i) increase the Tender Offer Consideration (as defined in the Issuer’s Offer to Purchase dated January 19, 2021 (the "Offer to Purchase")) from $1,03...

Community Health Systems, Inc. (the "Company") (NYSE: CYH) today announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the "Issuer"), has priced an offering of $1.775 billion aggregate principal amount of its 6.875% Junior-Priority Secured Notes due 2029 (the "Notes") (the "Notes Offering"). The sale of the Notes is expected to be consummated on or about February 2, 2021, subject to customary closing conditions. The size of the Notes Offering was increased by $1.025 bil...

(Bloomberg) -- Community Health Systems Inc., the debt-laden hospital chain that’s been staging a comeback, has more than doubled the size of a bond offering as it takes advantage of some of the lowest yields ever for speculative-grade issuers.After strong recent earnings results, the company is using the momentum to refinance a high coupon and push out maturities.Community is selling a $1.8 billion high-yield bond maturing in 2029 and announced a related tender offer Tuesday. The bond offering’...

Moody's Investors Service ("Moody's") today upgraded CHS/Community Health Systems, Inc.'s ("Community") Corporate Family Rating to Caa2 from Caa3 and Probability of Default Rating to Caa2-PD from Caa3-PD. The rating agency also upgraded Community's existing instrument ratings, including its senior secured first lien ratings to Caa1 from Caa2, its senior secured junior notes to Caa3 from Ca, and its unsecured notes to Ca from C. Moody's also assigned a Caa3 rating to Community's new senior secur...

Community Health Systems (CYH) saw a big move last session, as its shares jumped more than 8% on the day, amid huge volumes.

Shares of Community Health Systems (NYSE:CYH) rose by 86.99% in the past three months. Before having a look at the importance of debt, let us look at how much debt Community Health Systems has.Community Health Systems's Debt According to the Community Health Systems's most recent balance sheet as reported on October 28, 2020, total debt is at $13.06 billion, with $12.86 billion in long-term debt and $199.00 million in current debt. Adjusting for $1.82 billion in cash-equivalents, the company has...

Community Health Systems, Inc. (the "Company") (NYSE: CYH) today announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the "Issuer"), has commenced a cash tender offer (the "Tender Offer") for up to $750 million of the Issuer’s approximately $1,769 million aggregate principal amount outstanding Junior-Priority Secured Notes due 2023 (the "2023 Junior-Priority Secured Notes") on the terms and subject to the conditions set forth in the Issuer’s Offer to Purchase dated Jan...

Community Health Systems, Inc. (the "Company") (NYSE: CYH) today announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the "Issuer"), intends to offer $750 million aggregate principal amount of Junior-Priority Secured Notes due 2029 (the "Notes"), subject to market and other conditions (the "Notes Offering").