UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 1.02 Termination of a Material Definitive Agreement.
Select Medical Corporation (“Select Medical”) issued a redemption notice pursuant to the Indenture, dated as of May 28, 2013 (the “2021 Indenture”), among Select Medical, the guarantors party thereto, and U.S. Bank National Association (the “Trustee”), governing its 6.375% Senior Notes due June 1, 2021 (the “Senior Notes due 2021”) to redeem all of the outstanding Senior Notes due 2021. As of June 30, 2019, Select Medical had $710.0 million aggregate principal amount of Senior Notes due 2021 outstanding. On August 1, 2019, Select Medical deposited sufficient funds with the Trustee under the 2021 Indenture to redeem all of the outstanding Senior Notes due 2021 on August 30, 2019 (the “Redemption Date”) at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest to the Redemption Date (the “Redemption Price”). On the date of the deposit of the Redemption Price, the 2021 Indenture was satisfied and discharged. On the Redemption Date, the Redemption Price will be paid to the holders of the Senior Notes due 2021. Select Medical funded the Redemption Price with a portion of the net proceeds from the issuance and sale of Select Medical’s $550.0 million aggregate principal amount of its 6.250% Senior Notes due 2026 and a portion of the proceeds from a $500.0 million incremental term loan.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.
SELECT MEDICAL HOLDINGS CORPORATION | ||
SELECT MEDICAL CORPORATION | ||
Date: August 5, 2019 | By: | /s/ Michael E. Tarvin |
Michael E. Tarvin | ||
Executive Vice President, General Counsel and Secretary |