CHS offers to exchange $1.24B of 6.875% 2029 junior notes for new 10.250% senior secured notes due 2035

COMMUNITY HEALTH SYSTEMS INC

Exchange offer covers $1,244,476,000 of 6.875% Junior-Priority Secured Notes due 2029; new notes pay 10.250% and mature January 15, 2035.
Early tender deadline Nov 23, 2026 pays $1,000 new notes per $1,000 old, including $30 early premium; after that $970; offer expires Dec 10, 2026.
Supporting holders owning about $643.7M, roughly 52%, of Old Notes signed a support agreement to tender and consent to removing most covenants from the 2029 indenture.
Backstop: if tenders fall short, supporting holders receive New Notes equal to the untendered amount and deliver 6.125% 2030 junior notes at a 0.87 ratio.
New notes guaranteed by CHS and domestic subsidiaries, secured by shared first-priority liens with existing secured notes and second-priority liens on ABL collateral.

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