Full Press Release Details
Select Medical Corporation Announces
Pricing and Upsizing of its Offering of an Additional $675 million of its 6.250% Senior Notes due 2026
PENNSYLVANIA - December 5, 2019 - Select Medical Holdings Corporation ("Holdings") (NYSE: SEM), today
announced that Select Medical Corporation ("Select") has priced its private placement of $675 million aggregate
principal amount of its 6.250% senior notes due 2026 (the "Additional Notes") as additional notes under the
indenture pursuant to which it previously issued $550 million of 6.250% senior notes due 2026. The offering has been upsized
from the previously announced amount of $625 million. The offering is expected to close on December 10, 2019, subject to
the satisfaction of customary closing conditions.
use a portion of the net proceeds of the offering, together with a portion of the proceeds from a proposed incremental term
loan, and, if needed, available cash, to make an intercompany loan to Concentra, Inc. ("Concentra"), a
joint venture subsidiary of Select, which will use the proceeds from such intercompany loan to repay in full all of
Concentra's outstanding term loans, and to pay related fees and expenses.
The Additional Notes
and related guarantees are being offered in a private placement, solely to qualified institutional buyers in reliance on Rule 144A
under the Securities Act of 1933, as amended (the "Securities Act"), or outside the United States to persons other
than "U.S. persons" in compliance with Regulation S under the Securities Act. The Additional Notes and related guarantees
have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold
in the United States absent registration or an applicable exemption from the registration requirements.
This notice does not
constitute an offer to sell the notes, nor a solicitation for an offer to purchase the Additional Notes, in any jurisdiction in
which such offer or solicitation would be unlawful. Any offer of the Additional 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.
Senior Vice President and Treasurer
SOURCE: Select Medical Holdings Corporation