secwatch.observer — SEC 8-K summary
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Issuer:     Encompass Health Corp (EHC)
CIK:        0000785161
Form:       8-K
Filed at:   2022-10-13T23:59:59+00:00
Accession:  0000785161-22-000042
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/785161/000078516122000042/0000785161-22-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/785161/000078516122000042/ehc-20221007.htm
  HTML page:      https://secwatch.observer/filing/0000785161-22-000042

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