Encompass Health Rehab Hosp of Northern Virginia issued the following announcement.
Health Corporation issued notice for redemption of $100 million of the outstanding principal balance of its 5.125% senior notes due 2023 (the “2023 Notes”). The associated redemption date will be June 30, 2021, and the redemption price will be 100.0% of par, plus accrued and unpaid interest, pursuant to the terms of the 2023 Notes.
The Company plans to use cash on hand and drawings under its revolving credit facility to fund the redemption. As a result of this redemption, the Company expects to record an approximate $0.5 million loss on early extinguishment of debt in the second quarter of 2021.
Original source can be found here.
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