Select Medical Holdings Corporation Closes Offering of $550 Million of 6.250% Senior Notes due 2032 by Select Medical Corporation
Select Medical Holdings (NYSE: SEM) announced that its subsidiary, Select Medical , has completed a private offering of $550.0 million in 6.250% senior notes due 2032. The notes are senior unsecured obligations guaranteed by certain domestic subsidiaries.
The proceeds from the offering, along with new incremental term loan and cash on hand, will be used to repay existing term loans, redeem outstanding 6.250% senior notes due 2026, and cover related fees and expenses. The notes were offered exclusively 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 controllata, Select Medical, ha completato un'offerta privata di 550,0 milioni di dollari in obbligazioni senior al 6,250% con scadenza nel 2032. Le obbligazioni sono obbligazioni senior non garantite garantite da alcune controllate nazionali.
I proventi dell'offerta, insieme a un nuovo prestito termico incrementale e ai contanti disponibili, saranno utilizzati per ripagare prestiti esistenti, riscattare obbligazioni senior al 6,250% in scadenza nel 2026 e coprire le relative spese e commissioni. Le obbligazioni sono state offerte esclusivamente 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 completado una oferta privada de 550.0 millones de dólares en notas senior al 6.250% con vencimiento en 2032. Las notas son obligaciones senior no garantizadas garantizadas por ciertas subsidiarias nacionales.
Los ingresos de la oferta, junto con un nuevo préstamo a plazo incremental y efectivo disponible, se utilizarán para pagar préstamos a plazo existentes, canjear notas senior al 6.250% que vencen en 2026 y cubrir comisiones y gastos relacionados. Las notas se ofrecieron exclusivamente a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo la Regulación S.
Select Medical Holdings (NYSE: SEM)은 그 자회사인 Select Medical이 2032년 만기 6.250%의 선순위 채권을 5억 5천만 달러에 사모 발행했다고 발표했습니다. 이 채권은 일부 국내 자회사들에 의해 보증된 비담보 선순위 의무입니다.
이 발행에서 발생한 수익은 새로운 증액 기간 대출 및 현금을 통해 기존 기간 대출을 상환하고, 2026년에 만기가 도래하는 6.250%의 선순위 채권을 상환하며, 관련 수수료와 경비를 충당하는 데 사용될 것입니다. 이 채권은 144A 규칙에 따라 자격이 있는 기관 투자자에게만 제공되었으며, S 규정에 따라 비미국인에게도 제공되었습니다.
Select Medical Holdings (NYSE: SEM) a annoncé que sa filiale, Select Medical, a achevé une offre privée de 550,0 millions de dollars en obligations senior à 6,250% arrivant à échéance en 2032. Les obligations sont des obligations senior non garanties, garanties par certaines filiales nationales.
Les produits de l'offre, avec un nouveau prêt à terme supplémentaire et des liquidités disponibles, seront utilisés pour rembourser les prêts à terme existants, racheter les obligations senior à 6,250% arrivant à échéance en 2026 et couvrir les frais et dépenses liés. Les obligations ont été offertes exclusivement à des acheteurs institutionnels qualifiés en vertu de la règle 144A et à des personnes non américaines en vertu de la réglementation S.
Select Medical Holdings (NYSE: SEM) gab bekannt, dass ihre Tochtergesellschaft Select Medical eine private Platzierung von 550,0 Millionen US-Dollar in 6,250% Senioranleihen mit Fälligkeit 2032 abgeschlossen hat. Die Anleihen sind unbesicherte Seniorverbindlichkeiten, die von bestimmten inländischen Tochtergesellschaften garantiert werden.
Die Erlöse aus der Platzierung werden zusammen mit einem neuen zusätzlichen Termin-Darlehen und Bargeld verwendet, um bestehende Terminkredite zurückzuzahlen, ausstehende 6,250% Senioranleihen, die 2026 fällig werden, zurückzukaufen und damit verbundene Gebühren und Ausgaben zu decken. Die Anleihen wurden ausschließlich an qualifizierte institutionelle Käufer gemäß Regel 144A und an Nicht-US-Personen gemäß Regulation S angeboten.
- Successfully raised $550 million through senior notes offering
- Debt restructuring potentially improving financial flexibility
- Taking on new debt at 6.250% interest rate
- Increased leverage through new notes issuance
Insights
This debt refinancing transaction represents a significant financial move for Select Medical. The company is effectively replacing existing debt with new
The interest rate remaining unchanged at
The successful completion of this offering amid current market conditions signals strong institutional investor confidence in Select Medical's business model and financial outlook. The ability to place
The refinancing strategy aligns with market trends where companies are proactively managing their debt maturities to mitigate future refinancing risks. By extending maturities to 2032, Select Medical has reduced near-term refinancing pressure and enhanced its financial stability. This transaction positions the company well against potential market volatility and interest rate fluctuations in the coming years.
Select used the net proceeds of the Offering, together with the proceeds from the 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
Senior Vice President and Treasurer
717-972-1100
ir@selectmedicalcorp.com
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SOURCE Select Medical Holdings Corporation
FAQ
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