Hospital and rehabilitation center operator HealthSouth Corp. said Tuesday it is offering $290 million in senior notes and will use the proceeds to buy back other senior notes.
The company is selling its 8.125 percent senior notes due Feb. 15, 2020. The notes offering is set to close on Dec. 1.
HealthSouth plans on buying back its outstanding floating rate senior notes due 2014.
Joint bookrunning managers for the notes offering are J.P. Morgan Securities Inc., Barclays Capital Inc., and Goldman Sachs & Co.
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Shares of HealthSouth rose 3 cents to $18.24 in afternoon trading.