WEST READING, Pa. , Aug. 16, 2024 /PRNewswire/ -- Tower Health (" Tower Health ") today announced that it has commenced an offer to exchange (the " Exchange Offer ") all or any portion of certain outstanding debt securities issued by or on behalf of Tower Health described in the table below (collectively, the " Outstanding Bonds ") for a specified amount of new bonds to be issued by The Berks County Municipal Authority (the " Authority "), as identified in the table below (collectively, the " Exchange Bonds ").
The Exchange Offer is being made to realign the debt structure of Tower Health and the other members of the Obligated Group (as defined below) and their affiliates to support their acute care hospitals and related healthcare businesses. The Exchange Offer is further described in the Offer to Exchange and Consent Solicitation Statement dated August 16, 2024 (the " Offer to Exchange and Consent Solicitation Statement ") and is subject to the terms and conditions set forth therein. Information concerning Tower Health and the other members of the Obligated Group and the Exchange Bonds is set forth in the Authority's Preliminary Limited Offering Memorandum dated August 16, 2024 (the " Limited Offering Memorandum ") attached as APPENDIX A to the Offer to Exchange and Consent Solicitation Statement.
In connection with the Exchange Offer, Tower Health is also soliciting consents (" Consents ") from holders of Outstanding Bonds, upon the terms and subject to the conditions set .