Skilled Healthcare to redeem notes, repay some first-lien term debt with IPO proceeds

By Sara Rosenberg

New York, Oct. 10 - SHG Holding Solutions, Inc. plans on redeeming $70 million of its 11% senior subordinated notes due Jan. 15, 2014 and repaying some first-lien term loan debt using proceeds from a proposed initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission Tuesday.

SGH is a Foothill Ranch, Calif.-based provider of integrated long-term health care services.

In conjunction with the IPO, SHG plans to merge into its Skilled Healthcare Group, Inc. subsidiary, with Skilled Healthcare to be the surviving company.

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