Hartford HealthCare Announces Tender Offer for Outstanding Debt Securities

HARTFORD, Conn., March 9, 2026 /PRNewswire/ -- Hartford HealthCare Corporation (the "Corporation") today announced that it has commenced a tender offer to purchase for cash the debt securities issued by the Corporation listed in the table below (the "Securities") subject to the Maximum Aggregate Purchase Price (as defined below) of $64,500,000.

(1) Per $1,000 principal amount.
(2) Aggregate purchase price of Securities is subject to the Maximum Aggregate Purchase Price of $64,500,000.
(3) Term Bond.

The tender offer consists of an offer to purchase for cash, on the terms and conditions set forth in the offer to purchase dated March 9, 2026 (as it may be amended or supplemented from time to time, the "Offer to Purchase"), the Corporation's Taxable Bonds, Series 2020, up to a maximum aggregate purchase price exclusive of accrued interest of $64,500,000 (the "Maximum Aggregate Purchase Price") for all Securities purchased in the tender offer. The Corporation reserves the right, but is under no obligation, to increase or decrease the Maximum Aggregate Purchase Price at any time without extending withdrawal rights, subject to applicable law. The amount of Securities that will be purchased will be determined based on the Total Consideration and the Late Tender Offer Consideration (each as described below) of the Securities without exceeding the Maximum Aggregate Purchase Price and offers by holders may therefore be prorated as described in the Offer to Purchase. The Corporation refers investors to the Offer to Purchase for the complete terms and conditions of the tender offer.

The tender offer for the Securities will expire at 5:00 p.m., New York City time, on April 6, 2026, or any other date and time to which the Corporation extends the tender offer (such date and time, as it may be extended, the "Expiration Date"), unless earlier terminated. Holders of Securities must validly tender and not validly withdraw their Securities at or prior to 5:00 p.m., New York City time, on March 20, 2026 (such date and time, as it may be extended, the "Early Tender Date"), to be eligible to receive the applicable Total Consideration (as further described below), which is inclusive of an amount in cash equal to the amount set forth in the table above under the heading "Early Tender Premium" (the "Early Tender Premium"), plus Accrued Interest (as defined below). If a holder validly tenders Securities after the Early Tender Date but at or prior to the Expiration Date, the holder will be eligible to receive only the applicable Late Tender Offer Consideration (as defined below) plus Accrued Interest.

The applicable consideration (the "Offer Purchase Price") offered per $1,000 principal amount of Securities validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the tender offer will be determined in accordance with the formula set forth in the Offer to Purchase by reference to the fixed spread as specified in the table above plus the yield equal to the bid-side yield of the United States Treasury security specified in the table above at 10:00 a.m., New York City time, on March 23, 2026 (the "Price Determination Date"). The "Total Consideration" is equal to the Offer Purchase Price plus the Early Tender Premium. The "Late Tender Offer Consideration" is equal to the Offer Purchase Price (e.g., the Total Consideration minus the Early Tender Premium).

The tender offer will expire on the Expiration Date. Except as set forth below, payment for the Securities that are validly tendered at or prior to the Early Tender Date and which are accepted for purchase subject to the Maximum Aggregate Purchase Price will be made on a date promptly following the Early Tender Date, which is currently anticipated to be March 25, 2026, the third business day after the Early Tender Date and the second business day after the Price Determination Date. Payment for the Securities that are validly tendered after the Early Tender Date and at or prior to the Expiration Date and which are accepted for purchase subject to the Maximum Aggregate Purchase Price will be made on a date promptly following the Expiration Date, which is currently anticipated to be April 8, 2026, the second business day after the Expiration Date.

Holders also will receive accrued and unpaid interest on Securities validly tendered and accepted for purchase from the applicable last interest payment date up to, but not including, the applicable settlement date ("Accrued Interest").

Tendered Securities may be withdrawn at or prior to, but not after, 5:00 p.m., New York City time, on March 20, 2026, unless extended or otherwise earlier terminated (the "Withdrawal Deadline"). Subject to applicable law, the Corporation may extend the Early Tender Date without extending the Withdrawal Deadline with respect to the tender offer.

The tender offer is subject to the satisfaction or waiver of certain conditions as set forth in the Offer to Purchase.

Information Relating to the Tender Offer

The Offer to Purchase is being distributed to holders beginning today. Jefferies LLC ("Jefferies" or "Dealer Manager") is the dealer manager for the tender offer. Investors with questions regarding the tender offer may contact Jefferies at (212) 336-7151 or by email at [email protected]. Globic Advisors Inc. is the tender and information agent for the tender offer (the "Tender and Information Agent") and can be contacted at (212) 227-9699 or by email at [email protected]. 

None of the Corporation and its affiliates, their respective boards of directors, the Dealer Manager, the Tender and Information Agent and the trustee with respect to any Securities is making any recommendation as to whether holders should tender any Securities in response to the tender offer, and neither the Corporation nor any such other person has authorized any person to make any such recommendation. Holders must make their own decision as to whether to tender any of their Securities, and, if so, the principal amount of Securities to tender.

The full details of the tender offer, including complete instructions on how to tender Securities, are included in the Offer to Purchase. Holders are strongly encouraged to read carefully the Offer to Purchase, including materials incorporated by reference therein, because they will contain important information. The Offer to Purchase may be obtained from Globic Advisors Inc., by calling (212) 227-9699, by emailing [email protected] or by visiting www.globic.com/hartfordhealthcare.

About Hartford HealthCare Corporation

Certain information relating to the Corporation may be obtained by contacting the Tender and Information Agent. Such information is limited to (i) the Offer to Purchase, and (ii) information about the Corporation available through the Municipal Securities Rulemaking Board's Electronic Municipal Market Access system (www.emma.msrb.org) and retrievable using CUSIP Number 20775DP48.

Forward-Looking Statements

Statements included or incorporated by reference herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts and assumptions by the Corporation's management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated in those portions the offering document and the additional financial disclosures incorporated by reference in the Offer to Purchase. The Corporation cannot be certain that any expectations, forecasts or assumptions made by management in preparing these forward-looking statements will prove accurate, or that any projections will be realized. It is to be expected that there may be differences between projected and actual results. Any forward-looking statement speaks only as of the date on which it is made, and the Corporation assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

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SOURCE Hartford HealthCare Corporation