Select Medical $175 million 10-year notes talked at 7¼%-7½%, pricing Tuesday afternoon

By Paul A. Harris

St. Louis, July 28 - Price talk of 7¼%-7½% was heard Monday on Select Medical Corp.'s planned sale of $175 million 10-year non-call-five senior subordinated notes (B2/B), according to an informed source.

The deal is expected to price on Tuesday, the source added.

JP Morgan and Merrill Lynch & Co. are joint bookrunners on the Rule 144A deal.

Select Medical will use proceeds to fund the acquisition of Kessler Rehabilitation Corp.

The company is based in Mechanicsburg, Pa.

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