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Select Medical upsizes senior notes offering to $675M

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Select Medical upsizes senior notes offering to $675M

Select Medical Holdings Corp. upsized its previously announced private offering of 6.250% senior notes due 2026 to $675 million, from $625 million.

The Mechanicsburg, Pa.-based company intends to loan a portion of the net proceeds from the offering, expected to close Dec. 10, to its subsidiary Concentra to help it settle its outstanding debt, Select Medical said in a Dec. 5 news release.

In August, the company closed a $550 million offering of senior notes.

Select Medical operates critical illness recovery hospitals, outpatient rehabilitation clinics and occupational health centers in the U.S.