Four Decades for Justice
Cravath represented the underwriters, led by Credit Suisse, Bank of America Merrill Lynch, Citigroup, Credit Agricole CIB, Deutsche Bank Securities, Goldman Sachs & Co. LLC, J.P. Morgan Securities, RBC Capital Markets, SunTrust Robinson Humphrey and Wells Fargo Securities, in connection with the US$900 million registered high‑yield senior secured debt offering of CHS/Community Health Systems, Inc. Community Health Systems, Inc., is one of the largest publicly traded operators of hospitals in the United States in terms of number of facilities and net operating revenues. The transaction closed on May 12, 2017.
The Cravath team included partner Joseph D. Zavaglia and associates Eric M. Wasserstrum, Jennifer Uren and Adam J. Gross on corporate matters; senior attorney Annmarie M. Terraciano on environmental matters; associate Damien J. Rose on tax matters; and associate Brian B. Kennedy on executive compensation and benefits matters. Anthony J. Ramirez also worked on this matter.
Deals & Cases
January 24, 2024
Cravath represented the initial purchasers in connection with the $1 billion 144A/Reg. S high‑yield senior secured notes offering of CHS/Community Health Systems, Inc. CHS/Community Health Systems, Inc., together with its parent company, Community Health Systems, Inc., is one of the nation’s largest healthcare companies. Cravath also represented the dealer manager in connection with the concurrent $985 million cash tender offer. The high‑yield senior secured notes offering closed on December 22, 2023, and the cash tender offer closed on January 10, 2024.
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