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:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Apple ... care services, staged a mock evacuation of the facility as part of a disaster ... Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well as the ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th ... Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, ... The fun run is geared towards children of all ages; it is a non-competitive, ...
(Date:10/13/2017)... ... 2017 , ... “The Journey: From the Mountains to the Mission Field”: the ... in the Philippines. “The Journey: From the Mountains to the Mission Field” is the ... She has taught all ages and currently teaches a class of ladies at her ...
(Date:10/12/2017)... LA (PRWEB) , ... October 12, 2017 , ... Planet ... in the U.S., announced today its plans to open a flagship location in Covington, ... occupy the former Rooms To Go store next to Office Depot in the Holiday ...
(Date:10/12/2017)... ... October 12, 2017 , ... Asante, a nationally recognized health ... expanded their existing home health joint venture through an agreement, effective October 1, ... joint venture home health company with Asante, delivering clinically integrated care, for the ...
Breaking Medicine News(10 mins):
(Date:9/22/2017)... Sept. 22, 2017 AVACEN Medical (AVACEN) announced ... now successfully helping those with the widespread pain associated ... diagnosed Amanda in Essex, England ... my hair, experiencing no sleep at all, tremendous pain, ... I cannot recommend [the AVACEN 100] enough, how this ...
(Date:9/18/2017)... 18, 2017 EpiVax, Inc. ("EpiVax") ... and immune engineering, today announced a new ... (H7N9) vaccine. ... influenza and presents a challenge for traditional ... to be effective. Using state-of-the-art bioinformatics and molecular ...
(Date:9/12/2017)... 2017  ValGenesis Inc., the global leader in ... to announce the appointment of Dr. Ajaz ... of Directors and Chairman of Advisory Board beginning ... companies to manage their entire validation lifecycle process ... this process. Furthermore, ValGenesis VLMS enables rigorous compliance, ...
Breaking Medicine Technology: