Select Medical Holdings Corporation Announces Pricing of Offering of 6.250% Senior Notes due 2032 by Select Medical Corporation
Select Medical Holdings (NYSE: SEM) announced that its subsidiary, Select Medical , has priced a $550.0 million private offering of 6.250% senior notes due 2032. The offering is expected to close on December 3, 2024. The notes will be senior unsecured obligations guaranteed by certain domestic subsidiaries.
The company plans to use the proceeds, along with a new incremental term loan and cash on hand, to repay existing term loans, redeem outstanding 6.250% senior notes due 2026, and cover related fees. The notes will be offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
Select Medical Holdings (NYSE: SEM) ha annunciato che la sua sussidiaria, Select Medical, ha fissato il prezzo per un
L'azienda prevede di utilizzare i proventi, insieme a un nuovo prestito a termine incrementale e liquidità disponibile, per rimborsare prestiti a termine esistenti, riscattare note senior del 6,250% in scadenza nel 2026 e coprire le spese correlate. Le note saranno offerte solo a compratori istituzionali qualificati ai sensi della Regola 144A e a persone non statunitensi ai sensi della Regolamentazione S.
Select Medical Holdings (NYSE: SEM) anunció que su subsidiaria, Select Medical, ha fijado el precio de una oferta privada de $550.0 millones de bonos senior al 6.250% con vencimiento en 2032. Se espera que la oferta se cierre el 3 de diciembre de 2024. Los bonos serán obligaciones no garantizadas de senioridad, garantizadas por ciertas subsidiarias nacionales.
La empresa planea utilizar los ingresos, junto con un nuevo préstamo a término incremental y efectivo disponible, para pagar préstamos a término existentes, redimir bonos senior al 6.250% que vencen en 2026 y cubrir tarifas relacionadas. Los bonos se ofrecerán solo a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo la Regulación S.
Select Medical Holdings (NYSE: SEM)은 자회사 Select Medical이 5억 5천만 달러 규모의 사모 발행을 2026년 만기를 가진 6.250%의 선순위 채권으로 가격을 결정했다고 발표했습니다. 이 발행은 2024년 12월 3일에 마감될 예정입니다. 채권은 특정 국내 자회사가 보증하는 비담보 선순위 의무가 됩니다.
회사는 이러한 수익과 새로운 증분 만기 대출, 보유 현금을 활용하여 기존 만기 대출을 상환하고, 2026년에 만기가 도래하는 6.250% 선순위 채권을 상환하며, 관련 수수료를 충당할 계획입니다. 이 채권은 규칙 144A에 해당하는 적격 기관 구매자와 규정 S에 해당하는 비미국인에게만 제공됩니다.
Select Medical Holdings (NYSE: SEM) a annoncé que sa filiale, Select Medical, a fixé le prix d'une offre privée de 550 millions de dollars de notes senior de 6,250% arrivant à échéance en 2032. L'offre devrait se clôturer le 3 décembre 2024. Les notes seront des obligations senior non garanties garantis par certaines filiales nationales.
L'entreprise prévoit d'utiliser les recettes, ainsi qu'un nouveau prêt à terme supplémentaire et des liquidités disponibles, pour rembourser des prêts à terme existants, racheter des notes senior de 6,250% arrivant à échéance en 2026 et couvrir les frais associés. Les notes seront offertes uniquement à des acheteurs institutionnels qualifiés conformément à la Règle 144A et à des personnes non américaines selon la Réglementation S.
Select Medical Holdings (NYSE: SEM) hat bekannt gegeben, dass ihre Tochtergesellschaft, Select Medical, eine private Platzierung in Höhe von 550,0 Millionen USD von 6,250% Senioranleihen mit Fälligkeit 2032 bepreist hat. Die Platzierung soll am 3. Dezember 2024 abgeschlossen werden. Die Anleihen werden unbesicherte Seniorverpflichtungen sein, die von bestimmten inländischen Tochtergesellschaften garantiert werden.
Das Unternehmen plant, die Erlöse zusammen mit einem neuen zusätzlichen Terminkredit und verfügbaren liquiden Mitteln zu verwenden, um bestehende Terminkredite zurückzuzahlen, ausstehende 6,250% Senioranleihen mit Fälligkeit 2026 einzulösen und damit verbundene Gebühren zu decken. Die Anleihen werden nur qualifizierten institutionellen Käufern gemäß Regel 144A und Nicht-US-Personen gemäß Regulation S angeboten.
- Successfully priced $550.0 million senior notes offering
- Debt restructuring to extend maturity dates
- Refinancing existing debt obligations
- Taking on new debt at 6.250% interest rate
- Increased leverage through new term loan and notes offering
Insights
Concurrently with the consummation of the Offering, Select intends to amend its existing senior secured credit agreement to, among other things, establish a new incremental term loan which will refinance Select's existing term loans, extend the maturity date of Select's existing revolving credit facility, and provide for an incremental revolving commitment.
Select intends to use the net proceeds of the Offering, together with the proceeds from the proposed new incremental term loan and cash on hand, to repay in full the term loans currently outstanding under Select's existing senior secured credit agreement, to redeem all of Select's outstanding
The notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any other jurisdiction and may not be offered or sold in
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of, the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer of the notes will be made only by means of a private offering memorandum. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. This press release shall not constitute a notice of redemption with respect to the
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements use words such as "expect," "anticipate," "outlook," "intend," "plan," "confident," "believe," "will," "should," "would," "potential," "positioning," "proposed," "planned," "objective," "likely," "could," "may," and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. Statements that describe or relate to Holdings' plans, goals, intentions, strategies, financial outlook, Holdings' expectations regarding the aggregate principal amount of the notes to be sold or the intended use of proceeds from the offering of the notes, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of the Holdings' control. Forward-looking statements are not guarantees of future performance and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements. Additional information concerning these and other factors can be found in Holdings' filings with the
Investor inquiries:
Joel T. Veit
717-972-1100
ir@selectmedicalcorp.com
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SOURCE Select Medical Holdings Corporation
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