Navigation Links
Select Medical Corporation Amends its Senior Secured Credit Facility
Date:8/5/2009

MECHANICSBURG, Pa., Aug. 5 /PRNewswire/ -- Select Medical Corporation ("Select") and Select's parent corporation, Select Medical Holdings Corporation ("Holdings"), on August 5, 2009 entered into Amendment No. 3 (the "Amendment") to Select's senior secured credit facility, dated as of February 24, 2005 (as amended to date, the "Credit Facility"), with a group of holders of Tranche B term loans and JPMorgan Chase Bank, N.A., as administrative agent. The Amendment extended the maturity of $384,533,175.92 million principal amount of Tranche B term loans from February 24, 2012 to August 22, 2014, and made related technical changes to the Credit Facility. Holders of Tranche B term loans that extended the maturity of their Tranche B term loans now hold Tranche B-1 term loans that mature on August 22, 2014, and holders of Tranche B term loans that did not extend the maturity of their Tranche B term loans continue to hold Tranche B term loans that mature on February 24, 2012. The applicable rate for the Tranche B-1 term loans under the Credit Facility has increased to 3.75% for Eurodollar loans and 2.75% for ABR loans. Under the terms of the Amendment, if, prior to August 5, 2011, the Credit Facility is amended to reduce the applicable rate for the Tranche B-1 term loans, then Select will be required to pay a fee in an amount equal to 1% of the outstanding Tranche B-1 term loans held by those holders of Tranche B-1 term loans that agree to amend the Credit Facility to reduce the applicable rate. In addition, if, prior to August 5, 2011, Select makes any prepayment of Tranche B-1 term loans with proceeds of any term loan indebtedness, then Select will be required to pay a fee to holders of Tranche B-1 term loans in an amount equal to 1% of the outstanding Tranche B-1 term loans that are being prepaid.

Select Medical Corporation is a leading operator of specialty hospitals in the United States. Select operates 87 long-term acute care hospitals and five acute medical rehabilitation hospitals in 25 states. Select is also a leading operator of outpatient rehabilitation clinics in the United States, with approximately 948 locations in 37 states and the District of Columbia. Select also provides medical rehabilitation services on a contract basis at nursing homes, hospitals, assisted living and senior care centers, schools and worksites.


'/>"/>
SOURCE Select Medical Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. YMCA of the USA Announces 16 Communities Selected for Statewide Policy Change Initiative to Reverse the Childhood Obesity Epidemic
2. Londons Barts Hospital Selects Varian Equipment to Offer Advanced Radiotherapy to More Cancer Patients
3. South Carolina-Based AnMed Health Selects CHS for Affiliation Agreement
4. M2SYS Biometric Software Solution Selected By GHG Corporation
5. FDA selects Sensotech's Wireless Temperature Monitoring System
6. Top Dermatologists to be Selected and Published in "The Leading Physicians of the World" Consumer Directory.
7. Researchers Identify New Method to Selectively Kill Metastatic Melanoma Cells
8. Researchers identify new method to selectively kill metastatic melanoma cells
9. TGen-led team is 1 of 7 selected for $1 million skin-cancer grants
10. Medical Services of America Selects Authentidates Inscrybe Healthcare to Standardize Healthcare Order Process Management
11. Knome Selects Sterling Communications as Agency of Record
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/20/2017)... ... August 20, 2017 , ... State Farm Neighborhood Assist® has ... causes up for a $25,000 grant. If the initiative wins, Gals Lead – Dream ... expand into the Tri-County area of St. Mary’s, Calvert and Charles Counties. The program ...
(Date:8/19/2017)... Rockville, MD (PRWEB) , ... August 18, 2017 ... ... Food and Drug Administration Reauthorization Act of 2017, legislation that provides for greater ... perceived mild to moderate hearing loss to access OTC hearing aids without being ...
(Date:8/19/2017)... ... 2017 , ... Parker at Stonegate, an assisted living residence ... caregivers, volunteers, thought leaders, researchers, educators and partners leading the way in services ... refresh the carpeting with the goal of maintaining the same precise colors and ...
(Date:8/18/2017)... , ... ... ... For Immediate Release                Contact: ... Shows Young Women Seek Sex and Relationship Advice from their ...
(Date:8/18/2017)... ... 18, 2017 , ... As an industry leader, Eppendorf is ... will present the line of epMotion automated liquid handling system. This automated liquid ... everyday pipetting tasks. , Ideal for scientists and lab technicians with no or ...
Breaking Medicine News(10 mins):
(Date:8/7/2017)... Inc. (NYSE: DPLO), the nation,s largest independent specialty pharmacy, announced ... comparisons, unless otherwise noted, are to the quarter ended June ... Quarter 2017 Highlights include: Revenue of ... Total prescriptions dispensed of 220,000, compared to ... Gross profit per prescription dispensed of ...
(Date:8/3/2017)... SAN DIEGO , Aug. 3, 2017  Opioid ... crippling diseases driving up healthcare costs and threatening outcomes, ... the lab supply and IVD industry that support them, ... health care market researcher said that drugs of abuse, ... vendors and sessions at the organization,s 69th meeting in ...
(Date:8/2/2017)... 2, 2017 CaryRx, a next-generation full-service pharmacy, has ... for patients in the Washington D.C. ... by providing delivery of medications through the convenience of its ... or delivered within one hour to any location in D.C. ... bring this invaluable service to Washington D.C. ...
Breaking Medicine Technology: