Enhabit obtains covenant waiver for Q3 2023; revolver cut to $230M

Enhabit, Inc.

Limited Waiver exempts compliance with Total Net Leverage Ratio and Interest Coverage Ratio as of Sept 30, 2023 test date.
Revolving loan capacity reduced from $350M to $230M until financial covenant compliance is certified.
Each consenting lender receives a fee of 0.05% of their revolving commitment and outstanding term loans.
Enhabit represents no Default or Event of Default exists as of the waiver effective date.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Enhabit, Inc. entered into Limited Waiver with Wells Fargo Bank, National Association, as administrative agent valued at $350,000,000 to $230,000,000 (effective 2023-09-29).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Value: $350,000,000 to $230,000,000
Effective: 2023-09-29

Exact text from the filing

On September 29, 2023, Enhabit, Inc. (the “Company” or “Enhabit”), entered into a Limited Waiver (the “Waiver”) with Wells Fargo Bank, National Association, as administrative agent to the other lenders (the “Administrative Agent”) under its Credit Agreement

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Enhabit, Inc. filing history →

Source: SEC EDGAR

accession 0001803737-23-000150

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