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HealthSouth to pay down $141 million revolver debt via new notes issue
By Susanna Moon
Chicago, March 9 – HealthSouth Corp. plans to repay about $141 million of borrowings under its revolving credit facility due Sept. 20, 2019 and to invest in short-term interest-bearing instruments, according to a 424B2 filing with the Securities and Exchange Commission.
Interest on the revolver is 1.97% per year.
Proceeds will come from proceeds of a new notes offering.
HealthSouth planned to price a $300 million offering of eight-year senior notes on Monday trailing a late-morning conference call with investors, as reported by Prospect News.
The Birmingham, Ala.-based owner and operator of inpatient rehabilitation hospitals also plans to use the proceeds to fund the redemption of its 8 1/8% senior notes due 2020.
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