Select Medical Holdings (SEM) late Tuesday said it has completed a $550 million private placement of 6.25% unsecured senior notes maturing in 2032.

The company said it used net proceeds from the offering, along with borrowings through a new incremental term loan facility and cash on hand, to repay all loans under its existing senior secured credit agreement, to redeem its 6.250% senior notes due 2026 and pay related costs and fees.