Encompass Health enters $1B revolving credit facility; maturity extended to 2027

Encompass Health Corp

Sixth Amended and Restated Credit Agreement dated Oct 7, 2022; revolving maturity extended to Oct 7, 2027.
Reference rate changed from LIBOR to SOFR; undrawn commitment fee reduced from 37.5 bps to 25-30 bps.
Maximum leverage ratio set at 4.75x through Sept 2024, then 4.50x; includes step-up election for acquisitions.
Available Amount includes $900M starter plus 50% of cumulative Consolidated Net Income.
No term loans outstanding; ~$40M revolver drawn out of $1B total capacity as of amendment date.

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