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:2/5/2016)... ... February 05, 2016 , ... Dr. Justin Scott and ... 2nd Annual No Cost Dental Day to individuals in need. The event is scheduled ... this No Cost Dental Day is to provide dental care to community members in ...
(Date:2/5/2016)... ... , ... Colorize is a web theme package created exclusively for ... Colorize's dynamic moving camera. Colorize is perfect for personal and web related videos and ... 1 to 5 focus points per scene, stage floor scene presets that are great ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... kitchens, recently announced the debut of their latest mobile kitchen model, featuring customizable ... organizations with modern, high-volume commercial kitchens for use anywhere in the U.S. Many ...
(Date:2/5/2016)... ... February 05, 2016 , ... KICVentures ( http://www.kicventures.com ) announced ... in New York City on Thursday, January 21, 2016. Kingsley R. Chin, ... alumnus of the varsity Columbia soccer program) spoke at the event, offering professional ...
(Date:2/5/2016)... ... February 05, 2016 , ... When one is tired of trying to cram belongings into ... many reasons to rent a storage unit, but before hastily spending money on a unit, ... simply need more space. But what one is often not told when utilizing these services ...
Breaking Medicine News(10 mins):
(Date:2/5/2016)... 5, 2016 Dehaier Medical Systems Ltd. ... "Company"), which develops, markets and sells medical devices ... China and international markets, today announced ... to concentrate the Company,s resources to develop its ... and to focus more on its major businesses. ...
(Date:2/5/2016)... 2016  Henry Schein, Inc. (NASDAQ: HSIC ), the ... to office-based dental, animal health and medical practitioners, announced ... acquire a majority ownership interest in Dental Cremer S.A., ... Brazil . --> ... is the dental distribution business of Cremer S.A. With ...
(Date:2/5/2016)... , Feb. 5, 2016 ... addition of the "Global Obstetrics Partnering ... company profile to their offering. --> ... of the "Global Obstetrics Partnering 2010-2016: ... profile to their offering. --> ...
Breaking Medicine Technology: