Latest news with #SecuredNotes
Business Wire
2 hours ago
- Business
- Business Wire
Community Health Systems, Inc. Announces Pricing of Upsized Offering of Senior Secured Notes Due 2034
FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (the 'Company') (NYSE: CYH) today announced that its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the 'Issuer'), has priced an offering of $1,790 million aggregate principal amount of its 9.750% Senior Secured Notes due 2034 (the 'Notes') (the 'Notes Offering'). The size of the offering was increased by $290 million aggregate principal amount of Notes subsequent to the initial announcement of the proposed offering. The sale of the Notes is expected to be consummated on or about August 12, 2025, subject to customary closing conditions. The Issuer intends to use the net proceeds of the Notes Offering, together with cash on hand, to retire all of its 5.625% Senior Secured Notes due 2027 (the '2027 Notes') and to pay related fees and expenses. In particular, the Issuer intends to use the net proceeds from the Notes Offering to (i) purchase the Issuer's outstanding 2027 Notes that are validly tendered and accepted for purchase in the cash tender offer announced July 28, 2025 and (ii) to the extent the aggregate principal amount of the 2027 Notes validly tendered and accepted for purchase in the cash tender offer is less than the total aggregate principal amount outstanding of the 2027 Notes, redeem any unpurchased principal amount of the 2027 Notes on December 15, 2025. This press release shall not constitute a notice of redemption for or an offer to repurchase any 2027 Notes. The Notes are being offered in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act. Forward-Looking Statements This press release may include information that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risk and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.
Business Wire
18-07-2025
- Business
- Business Wire
Guitar Center Announces Comprehensive Agreement to Extend Debt Maturity
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Guitar Center, Inc. (together with its affiliates, 'Guitar Center,' or the 'Company') today announced that it has entered into an agreement with an ad hoc group of investors representing more than 70% of its outstanding 8.50% Senior Secured Notes due January 2026 (the 'Senior Secured Notes') to implement a transaction to exchange such notes for new first-lien senior secured notes due January 2029 (such exchange, the 'Senior Secured Notes Exchange'). The three-year maturity extension of the Senior Secured Notes is designed to extend the Company's liquidity runway and provide the time necessary to deliver on its business plan. The Company has separately announced today that it has commenced an exchange offer and consent solicitation to all holders of its Senior Secured Notes to effectuate the Senior Secured Notes Exchange. The Company expects the Senior Secured Notes Exchange to close in August 2025, subject to the terms and conditions thereof. Kirkland & Ellis LLP and Guggenheim Securities, LLC served as legal and financial advisors to Guitar Center. Paul Hastings LLP and Houlihan Lokey, Inc. served as legal and financial advisors to certain investors. About Guitar Center Guitar Center is the leading retailer of musical instruments, lessons, repairs and rentals in the U.S. With more than 300 stores across the U.S. and one of the top direct sales websites in the industry, Guitar Center has helped people make music for more than 60 years. Guitar Center also provides customers with various musician-based services, including Guitar Center Lessons, where musicians of all ages and skill levels can learn to play a variety of instruments in many music genres, GC Repairs, an on-site maintenance and repairs service, and GC Rentals, a program offering easy rentals of instruments and other sound reinforcement gear. Additionally, Guitar Center's sister brands include Music & Arts, which operates more than 250 stores specializing in band & orchestral instruments for sale and rental, serving teachers, band directors, college professors, parents and students, and Musician's Friend, a leading direct marketer of musical instruments in the United States. For more information about Guitar Center, please visit Forward-Looking Statements This press release contains certain 'forward-looking statements,' including, without limitation, statements regarding the consummation of the Senior Secured Notes Exchange and related transactions and the implementation of our business plan. Forward-looking statements can generally be identified by the use of words such as 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,' 'potential,' 'seek,' 'should,' 'think,' 'will,' 'would' and similar expressions, or they may use future dates. All of the forward-looking statements contained in this press release are subject to assumptions, risks and uncertainties that may change at any time, including, without limitation, our ability to obtain the required participation from noteholders in the Senior Secured Notes Exchange and satisfaction of terms and conditions thereof, our ability to consummate the Senior Secured Notes Exchange and related transactions, general market and economic conditions and impact of any new tariffs on goods that we import. Readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. We undertake no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. All forward-looking statements included in this press release are qualified in their entirety by this cautionary statement. This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy, or an invitation to purchase or subscribe for, any securities, or the solicitation of any vote or approval in any jurisdiction in connection with the Senior Secured Notes Exchange or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
Business Wire
24-06-2025
- Business
- Business Wire
Nexeo Plastics parent company GPD Companies, Inc. completes a refinancing of its Senior Secured Notes due 2026
THE WOODLANDS, Texas--(BUSINESS WIRE)--Nexeo Plastics, a leading global distributor of thermoplastic resins, announced today that, effective June 18, 2025, its parent company GPD Companies, Inc. completed a successful refinancing of its Senior Notes, due 2026. Pursuant to the terms of the transaction, the Company launched an exchange offer transaction on May 16, 2025, which expired on June 16, 2025, whereby existing Noteholders were offered $175 million in cash to reduce the principal amount of the new Senior Secured Notes. The new Senior Secured Notes will mature on December 31, 2029. Approximately 99.7% of existing Noteholders participated in the Exchange Offer, effectively providing unanimous consent. 'This successful transaction is deleveraging and extends our debt maturity by approximately four years, giving us significant financial flexibility to execute on our numerous growth initiatives,' said Michael Everett, Executive Vice President and CFO of Nexeo Plastics. Kurt Schuering, President and CEO of Nexeo Plastics, added, 'This transaction is very credit-positive for our business. We greatly appreciate the overwhelming support from our lenders and financial sponsor, and their confidence in our long-term growth strategy.' About Nexeo Plastics Nexeo Plastics is a leading global distributor of thermoplastic resins, connecting customers and suppliers with innovative material solutions across diverse industries. With a comprehensive portfolio of engineering and commodity-grade resins, Nexeo Plastics serves markets including healthcare, automotive, packaging, construction, consumer goods, and electronics. As a trusted partner, Nexeo Plastics is committed to delivering tailored solutions that help customers optimize their processes, meet regulatory requirements, and achieve their business goals. With a customer-centric approach, the company offers value-added services such as material selection, technical support, supply chain optimization, and sustainability initiatives to address today's complex challenges. For more information, please visit or contact us at About GPD Companies, Inc. GPD Companies, Inc. is a leading group of global value-added distributors. Its current operational entity is Nexeo Plastics. For more information, please visit or contact us at
Business Wire
17-06-2025
- Business
- Business Wire
SES Successfully Prices €1 Billion Dual-Tranche Bond Offering with Strong 5.5x Oversubscription
LUXEMBOURG--(BUSINESS WIRE)--NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. SES S.A. today announced the successful launch and pricing of a dual-tranche note offering in which the company has agreed to sell senior unsecured fixed rate notes under its €5,500,000,000 EMTN Programme (the "Notes"). Settlement is expected to take place on 24 June 2025: EUR 500 million of Notes will bear a coupon of 4.125% due in 2030. EUR 500 million of Notes will bear a coupon of 4.875% due in 2033. SES is rated Baa3, negative outlook by Moody's and BBB, negative outlook by Fitch. SES shall apply the net proceeds of the Notes towards its general corporate purposes, including, without limitation (i) financing all or part of the purchase price of the acquisition of Intelsat Holdings S.A. ('Intelsat' and Intelsat and its subsidiaries being the 'Intelsat Group') (the 'Acquisition') (including the payment of fees, costs and expenses in relation to the Acquisition) and/or (ii) refinancing existing indebtedness of the Group and/or (following closing of the Acquisition) the Intelsat Group. Promptly following the Issue Date, SES intends to cancel the bridge facility in relation to the Acquisition in an amount at least equal to the net proceeds of the Notes. SES also announces that, to further optimise the debt structure of the combined entity following the Acquisition, it intends to redeem (in aggregate) up to US$ 3 billion of the 6.500% First Lien Senior Secured Notes due 2030 issued by Intelsat Jackson Holdings SA ("SSNs") on, and conditional upon, closing of the Acquisition and settlement of the Notes. This will be achieved by the redemption of part or all of the SSNs in accordance with the optional redemption provisions governing the SSNs. Additionally, SES may from time to time conduct open market purchases of the SSNs. Deutsche Bank and Morgan Stanley acted as Global Coordinators and Joint Bookrunners, together with Goldman Sachs International, ING, J.P. Morgan, Société Générale as Joint Bookrunners. The settlement is scheduled for 24 June 2025 and application has been made for the Notes to be listed on the Luxembourg Stock Exchange. The securities were placed with a broad range of institutional investors across Europe and Americas region. The successful, pricing of €1 billion dual-tranche bond offering, provides SES enhanced financial flexibility which in combination with an existing strong balance sheet gives SES sufficient liquidity to cover upcoming maturities. This reflects SES's disciplined financial policy and commitment to investment grade metrics and sets the combined company on a strong footing for long-term balance sheet strength. Sandeep Jalan, outgoing CFO of SES commented: 'We are delighted with the successful conclusion of this bond note offering, which reflects the market's strong confidence in SES as a quality investment grade credit. The impressive 5.5x oversubscription of the order book demonstrates the deep commitment of investors to SES's strategic vision and long-term value creation. With the anticipated closing of the Intelsat transaction in H2 of 2025, this marks the final step in our market access related to the financing of the Intelsat acquisition—an important milestone in our growth journey.' About SES SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and operates a geosynchronous earth orbit (GEO) fleet and medium earth orbit (MEO) constellation of satellites, offering a combination of global coverage and high-performance services. By using its intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners around the world. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at:
Business Wire
16-06-2025
- Business
- Business Wire
Lumen Technologies, Inc. Announces Upsize and Pricing of First Lien Notes Due 2033
DENVER--(BUSINESS WIRE)-- Lumen Technologies, Inc. ('Lumen', 'us,' 'we' or 'our') (NYSE: LUMN) today announced that its wholly-owned subsidiary, Level 3 Financing, Inc. ('Level 3 Financing'), has agreed to sell $2.0 billion aggregate principal amount of its 6.875% First Lien Notes due 2033 (the 'First Lien Notes'), which represents a $1.0 billion increase from the previously announced size of the offering. The First Lien Notes were priced to investors at par and will mature on June 30, 2033. Upon issuance, Level 3 Financing's obligations under the First Lien Notes will initially be guaranteed and secured on a first lien basis by Level 3 Parent, LLC, the direct parent of Level 3 Financing, and certain unregulated subsidiaries of the Issuer. Level 3 Financing intends to use the net proceeds from the offering, together with cash on hand, to redeem all $924.522 million aggregate principal amount of Level 3 Financing's first lien 10.500% Senior Secured Notes due 2030 and all $667.711 million aggregate principal amount of Level 3 Financing's 10.500% First Lien Notes due 2029, and to partially redeem Level 3 Financing's 11.000% First Lien Notes due 2029, in each case, including payment of redemption premium, and to pay related fees and expenses. The offering is expected to be completed on June 30, 2025, subject to the satisfaction or waiver of customary closing conditions. The First Lien Notes will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an exemption from the applicable registration requirements. Accordingly, the First Lien Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A promulgated under the Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S promulgated under the Securities Act. Holders of the First Lien Notes will not have registration rights. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, the First Lien Notes, nor will there be any sale of the First Lien Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute a notice of redemption with respect to any of Level 3 Financing's outstanding senior notes. About Lumen Lumen is unleashing the world's digital potential. We ignite business growth by connecting people, data, and applications – quickly, securely, and effortlessly. As the trusted network for AI, Lumen uses the scale of our network to help companies realize AI's full potential. From metro connectivity to long-haul data transport to our edge cloud, security, managed service, and digital platform capabilities, we meet our customers' needs today and as they build for tomorrow. Lumen and Lumen Technologies are registered trademarks of Lumen Technologies LLC in the United States. Forward-Looking Statements Except for historical and factual information, the matters set forth in this release and other of our oral or written statements identified by words such as 'estimates,' 'expects,' 'anticipates,' 'believes,' 'plans,' 'intends,' and similar expressions are forward-looking statements. These forward-looking statements are not guarantees of future results and are based on current expectations only, are inherently speculative, and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us in those statements if one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect. Factors that could affect actual results include, but are not limited to: Level 3 Financing's failure to satisfy the conditions to the initial purchasers' obligation to consummate the offering; corporate developments that could preclude, impair or delay the above-described transactions due to restrictions under the federal securities laws; changes in Level 3 Financing's credit ratings; changes in the cash requirements, financial position, financing plans or investment plans of Level 3 Financing or its affiliates; changes in general market, economic, tax, regulatory or industry conditions that impact the ability or willingness of Level 3 Financing to consummate the above-described transactions on the terms described above or at all; and other risks referenced from time to time in the filings of Lumen or Level 3 Parent, LLC with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements for any reason, whether as a result of new information, future events or developments, changed circumstances, or otherwise. We may change our intentions, strategies or plans (including our plans expressed herein) without notice at any time and for any reason.
