HealthSouth redeems $290 million 8 1/8% notes due 2020 at 104.063

By Susanna Moon

Chicago, April 10 – HealthSouth Corp. redeemed its remaining $290 million principal amount of outstanding 8 1/8% senior notes due 2020 on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The company paid 104.063% of par plus accrued interest.

HealthSouth said on March 9 that it planned to redeem its 8 1/8% notes using proceeds of a new notes issue.

The company said it also intended to use proceeds from the new notes issue 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.

As previously reported, HealthSouth priced $300 million of eight-year senior notes at par to yield 5 1/8% on March 9.

The owner and operator of inpatient rehabilitation hospitals is based in Birmingham, Ala.

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