Select Medical Corp. announces $850M senior notes offering and $750M term loan to refinance existing debt

SELECT MEDICAL HOLDINGS CORP

Select Medical Corporation plans $850M senior notes due 2032 in a private placement; notes guaranteed by certain domestic subsidiaries.
Concurrently, it will amend credit facilities to add a $750M incremental term loan, extend revolver to 5 years, and add $50M revolver.
Proceeds from notes, new term loan, and cash on hand will repay existing term loan and redeem all outstanding 6.250% senior notes due 2026.
The offering is subject to market conditions and other customary conditions; no assurance it will be completed as described.

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