HealthSouth Announces Proposed Senior Notes Offering
HealthSouth Corporation (NYSE: HLS) today announced it plans to commence a public offering of senior notes pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (SEC). The Company intends to use the net proceeds from this offering to repay amounts currently drawn on the revolving credit facility under the Company's credit agreement, redeem up to 10% of the outstanding principal balance under the existing 7.25% Senior Notes due 2018 and the existing 7.75% Senior Notes due 2022, and use the balance of the net proceeds of this offering, if any, for general corporate purposes. Affiliates of certain of the underwriters are lenders under the revolving credit facility under the Company's credit agreement and will receive a portion of the net proceeds used to repay amounts outstanding under the revolving credit facility.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.