Community Health Systems Inc.’s $1.925 billion 8.00% senior unsecured notes due 2019 gained another 2 points to 99.00 (8.46% YTW) in active trade after the company on Tuesday posted 4Q16 results that beat estimates and reiterated that proceeds from recent divestitures will be used to pay down more debt. The company’s $3 billion 6.875% senior unsecured notes due 2022 added 3 points to 87.00 (10.30% YTW) on heavy volume.
Community Health Systems, Inc. announced that W. Larry Cash, President of Financial Services and Chief Financial Officer, will retire as an officer and as a member of the Board of Directors of the Company effective May 16, 2017, the date of the Company’s 2017 annual meeting of stockholders. Upon his retirement, Mr. Cash will enter into a consulting agreement with the Company, pursuant to which he will advise the Company’s management team on issues related to healthcare finance, management and operations.