HealthSouth Corp. (HLS) announced that it has completed its refinancing. As a result, the company reduced its total outstanding debt by approximately $40 million. In connection with the refinancing, the company will take a charge in the fourth quarter of 2009 for the early extinguishment of debt of approximately $15 million.
The refinancing included the tender for and redemption of all, or $329.6 million, of its outstanding floating rate senior notes due 2014. The tender offer and redemption were financed through the issuance of $290 million 8.125% senior notes due 2020 and cash on hand.
For comments and feedback: editorial@rttnews.com