HealthSouth Corp. (HLS) said that it has commenced a tender offer to purchase for cash any and all of its outstanding floating rate senior notes due 2014. The offer will expire on December 14.
HealthSouth is also soliciting consents to amend the indenture governing the notes. The proposed amendments will eliminate or make less restrictive substantially all of the restrictive covenants and eliminate certain other related provisions contained in the indenture governing the notes.
The total consideration for each $1,000 principal amount of the notes will be $1,030, which includes an early tender amount of $30.
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