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Bond Market News
CHS’s Bonds Trade Higher; Reports Significant Early Investor Interest in Buyback Offer
May 9, 2025
Community Health Systems (CHS) reported significant early interest by its bondholders in its cash tender offer announced on 23 April 2025 for its 6.875% 2028s. Approximately 93.32%, or $584.1mn of the $625.885mn outstanding notes were validly tendered by the early deadline of 6 May 2025. Holders who tendered early will receive $750 per $1,000 in principal, including a $50 premium. CHS also obtained the necessary consents to remove key restrictive covenants in the bond agreement. The offer remains open until 21 May 2025.
Following this, CHS’s bonds traded higher across the curve – for instance, its 6.875% 2029s rose by over 3.9 points to 79.7, yielding 13.8%.
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