Franklin, Tenn.-based Community Health Systems has announced its offering of senior notes to fund its acquisition Naples, Fla.-based Health Management Associates.
The offering includes $1.7 billion of senior secured notes, due in 2021, and $2.9 billion of senior notes, due in 2022.
The funds will be used to cover the purchase price and transaction costs of the merger. CHS agreed to acquire Health Management for $3.9 billion in cash (and assume $3.7 billion of debt).
Earlier this week, Health Management shareholders overwhelmingly approved the merger with CHS. The deal is now expected to close before the end of the month.
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