Select Medical Holdings Corporation (NYSE: SEM), today announced that Select Medical Corporation has completed its private placement of $550.0 million aggregate principal amount of its 6.250% Senior Notes due 2026.

Select intends to use a portion of the net proceeds of the offering, together with a portion of the proceeds from a $500.0 million incremental term loan, to redeem in full the $710.0 million aggregate principal amount of Select's outstanding 6.375% Senior Notes due 2021 at the applicable redemption price of 100% of the principal amount thereof, plus interest accrued to, but excluding, the date of redemption, and used such net proceeds to repay in full the outstanding borrowings under Select's revolving credit facility, including any accrued and unpaid interest thereon, and to pay related fees and expenses.