MECHANICSBURG, Pa., Sept. 7 /PRNewswire/ -- Select Medical Holdings
Corporation ("Holdings"), the parent company of Select Medical Corporation
("Select"), today announced plans to issue senior floating rate notes due
2015, expected to generate gross proceeds of approximately $250 million. The
floating rate notes will be general unsecured obligations of Holdings, will
not be guaranteed by Select or its subsidiaries, and will bear interest at a
rate per annum, reset periodically, equal to LIBOR plus an applicable margin.
The floating rate notes are expected to be issued and sold in a private
offering to institutional investors pursuant to Rule 144A and Regulation S
under the Securities Act of 1933.
The net proceeds of the issuance of the floating rate notes, together with
cash on hand of Select, will be used to reduce the amount of Holdings'
preferred stock, to make a payment to participants in Holdings' long-term cash
incentive plan, and to pay related fees and expenses.
This announcement is neither an offer to sell nor a solicitation of an
offer to buy the securities described herein. Holdings is offering the
floating rate notes in reliance upon an exemption from registration under the
Securities Act of 1933 for an offer and sale of securities that does not
involve a public offering. The floating rate notes have not been and will not
be registered under the Securities Act of 1933 or any state securities laws
and may not be offered to sold in the Unites States absent registration or an
applicable exemption from registration requirements.
SOURCE Select Medical Corporation
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Related links:
http://www.selectmedicalcorp.com
CONTACT:
Investor inquiries: Joel Veit, Select
Medical Corporation, +1-717-972-1100, ir@selectmedicalcorp.com
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