Select Medical Holdings (SEM) said late Monday one of its subsidiaries has priced a private offering of $550 million of 6.250% senior notes due 2032.
The offering is expected to close Dec. 3.
Concurrent with the closing of the offering, the subsidiary plans to amend its senior secured credit agreement to establish a new incremental term loan, extend the maturity date of its revolving credit facility, and provide for an incremental revolving commitment.
The unit intends to use net proceeds of the offering, together with proceeds from the proposed new incremental term loan and cash on hand, to pay down other debt.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.