Select Medical to redeem $710 million of 6 3/8% notes due 2021

By Sarah Lizee

Olympia, Wash., July 29 – Select Medical Holdings Corp. subsidiary Select Medical Corp. plans to redeem $710 million of its outstanding 6 3/8% senior notes due 2021 with proceeds from new notes and a portion of proceeds from a new term loan, according to an 8-K filing with the Securities and Exchange Commission.

The company said it will offer $500 million of new senior notes due 2026.

The 6 3/8% notes will be redeemed at par plus interest accrued to but excluding the redemption date.

Proceeds will also be used to pay down the company’s revolving credit facility.

Select Medical is a Mechanicsburg, Pa.-based health care company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.