CHS supersizes debt sale to nearly $1.8B

Community Health Systems executives this week scored a notable win in the debt markets, turning a planned $750 million sale of eight-year notes into an offering of $1.775 billion.

The Franklin-based hospital owner will use that money to retire a group of secured notes that would have matured in 2023 and has been paying nearly 10 percent in interest. By contrast, the new notes scheduled to come due in 2029 will pay investors 6.875 percent per year.