Select Medical tightens $615 million add-on term loan price to par

By Sara Rosenberg

New York, Dec. 5 – Select Medical Corp. revised the issue price on its $615 million add-on term loan (Ba2) to par from 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 250 basis points with a 0% Libor floor.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used with $675 million of senior notes to repay outstanding term loans at Select Medical’s joint venture subsidiary Concentra Inc.

Select Medical is a Mechanicsburg, Pa.-based health care company.

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