secwatch.observer — SEC 8-K summary
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Issuer:     SELECT MEDICAL HOLDINGS CORP (SEM)
CIK:        0001320414
Form:       8-K
Filed at:   2024-06-27T23:59:59+00:00
Accession:  0001104659-24-075765
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Select Medical's Concentra subsidiary prices $650M of 6.875% senior notes due 2032
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- $650M aggregate principal of 6.875% senior notes due 2032 priced by Concentra Escrow Issuer.
- Notes issued as a step in the planned separation of Concentra from Select Medical.
- Proceeds held in escrow pending merger into CHSI expected Q3 2024; if not closed by Sep 30, notes subject to special mandatory redemption at 100% plus accrued interest.
- Concentra to use $50M for corporate purposes; remainder plus borrowings paid as dividend to Select Medical Corp.
- Upon merger, notes guaranteed by Concentra and certain subsidiaries on senior unsecured basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320414/000110465924075765/0001104659-24-075765-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320414/000110465924075765/tm2418470d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-075765

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