Encompass Health to repay revolver borrowings with note proceeds

By Marisa Wong

Los Angeles, Sept. 9 – Encompass Health Corp. said it plans to repay borrowings under the company’s revolving credit facility using proceeds from an offering of senior notes.

The company announced on Monday that it plans to offer $800 million of senior notes due 2028 and 2030.

Proceeds will also be used to redeem $200 million of the company’s senior notes due 2024 and to fund the purchase of equity from management investors of its home health and hospice segment.

Encompass is a Birmingham, Ala.-based health-care provider through inpatient rehabilitation hospitals, home health agencies and hospice agencies.

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