HealthSouth Announces Record Date For Payment of Past Due Interest
BIRMINGHAM, Ala., Aug. 13 /PRNewswire-FirstCall/ -- HealthSouth Corporation (OTC Pink Sheets: HLSH) today announced that it had set a record date of August 29, 2003, for the payment of past due interest to the holders of its outstanding notes. As previously announced, on August 12, 2003, HealthSouth paid $117 million to its lending banks and the trustees under its indentures representing payment of all past due interest owed by the Company under its various borrowing agreements. It is expected that payment of the past due interest will be made to the holders of Company's notes shortly after the record date.
HealthSouth also noted that its banks had previously issued a payment blockage notice with respect to the Company's 10.75% Senior Subordinated Notes due 2008 and its Convertible Subordinated Debentures, which blockage would preclude holders of those instruments from receiving past due interest. The Company has requested that its banks waive such payment blockage to allow past due interest to be paid to the holders of its subordinated indebtedness. No assurance can be made that such waiver will be granted.
HealthSouth is the nation's largest provider of outpatient surgery, diagnostic imaging and rehabilitative healthcare services, with nearly 1,700 locations in all 50 states and abroad. HealthSouth can be found on the Web at www.healthsouth.com.
SOURCE HealthSouth Corporation
CONTACT:
Andy Brimmer, +1-205-410-2777, for HealthSouth Corporation/
Web site: healthsouth.com
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