HealthSouth redeems another $25 million of 10¾% notes due 2016, repays more of term loan

By Susanna Moon

Chicago, Aug. 5 - HealthSouth Corp. said it redeemed about $25 million of its 10¾% senior notes due 2016.

HealthSouth said the redemption was funded with proceeds from the sale of its corporate campus and stock offering. Proceeds also were used to cut the company's term loan by $39.8 million.

The company said the rest of the proceeds will be used to meet pending bond maturities and for general corporate purposes.

In July, the company redeemed another $9.6 million of its 10¾% notes, bringing the total redemptions to $39.6 million. HealthSouth redeemed $5 million of the notes in the first quarter.

HealthSouth is a Birmingham, Ala.-based provider of ambulatory surgery and rehabilitative health care services.

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