Select Medical Completes $600 Million Private Placement

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Specialty hospitals and outpatient rehabilitation clinic operator Select Medical  announced yesterday that it had successfully completed the private placement of $600 million worth of its 6.375% senior notes due in 2021.

Of the total proceeds, $587 million was used to pay down a portion of the amount it owes on an $850 million term loan as well as a $275 million term loan under its senior secured credit facilities, both of which mature in June 2018. It also paid fees and expenses related to the placement.

Select Medical said the senior notes are unsecured obligations and will be guaranteed by its subsidiaries. 

The article Select Medical Completes $600 Million Private Placement originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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