Community Health Systems, Inc. Announces Early Tender Results for Its Junior-priority Secured Notes Due 2023

Community Health Systems, Inc. (the “Company”) (NYSE: CYH) announced today the early tender results of the previously announced cash tender offer (the “Tender Offer”) by its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the “Issuer”), to purchase for cash any and all of the Issuer’s 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 Statement, dated January 19, 2021, as amended (the “Offer to Purchase”).

According to Global Bondholder Services Corporation, the depositary and information agent for the Tender Offer, as of 5:00 p.m., New York City time, on February 1, 2021 (the “Early Tender Deadline”), $132,925,000 aggregate principal amount, or approximately 7.52%, of the outstanding 2023 Junior-Priority Secured Notes were validly tendered and not validly withdrawn. All of the 2023 Junior-Priority Secured Notes validly tendered and not validly withdrawn by the Early Tender Deadline were accepted for purchase by the Issuer.

The table below identifies the aggregate principal amount of 2023 Junior-Priority Secured Notes validly tendered (and not validly withdrawn) as of the Early Tender Deadline and accepted for purchase by the Issuer and the aggregate principal amount of 2023 Junior-Priority Secured Notes that will remain outstanding on the Early Payment Date (as defined below).

CUSIP No.		Title of Security		Aggregate Principal Amount Outstanding(1)		Aggregate Principal Amount Tendered as of the Early Tender Deadline and Accepted for Purchase		Aggregate Principal Amount Remaining Outstanding
12543D AZ3 U17127AH1		Junior-Priority Secured Notes due 2023		$1,768,697,000		$132,925,000		$1,635,772,000

^{(1) Aggregate principal amount outstanding for the 2023 Junior-Priority Secured Notes as of January 19, 2021.}

The settlement date for 2023 Junior-Priority Secured Notes accepted for purchase as of the Early Tender Deadline is expected to occur on February 2, 2021 (the “Early Payment Date”). The Tender Offer is scheduled to expire at 11:59 p.m., New York City time, on February 16, 2021, unless extended or earlier terminated by the Issuer. The withdrawal deadline for the Tender Offer was 5:00 p.m., New York City time, on February 1, 2021 and has not been extended. Accordingly, previously tendered 2023 Junior-Priority Secured Notes may not be withdrawn, subject to applicable law.