CHS issues $1.225B add-on 10.875% notes due 2032, redeems $1.116B 8.000% notes due 2026

COMMUNITY HEALTH SYSTEMS INC

Issued $1.225B aggregate principal of 10.875% Senior Secured Notes due 2032 (Tack-On Notes) under existing indenture.
Net proceeds used to redeem all $1.116B of 8.000% Senior Secured Notes due 2026 and repurchase ~$100M of other existing notes.
Entered new $1B ABL credit facility maturing June 5, 2029, replacing prior ABL; SOFR-based margin 1.75%-2.25%.
New notes secured by first-priority liens on non-ABL collateral and second-priority on ABL collateral; guaranteed by parent and domestic subs.
Refinancing extends near-term maturities but at a higher coupon (10.875% vs 8.000%), increasing future interest expense.

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