Enhabit draws $400 million term loan A, $170 million under revolver

By Marisa Wong

Los Angeles, July 5 – Enhabit, Inc. borrowed on June 30 $400 million under its term loan A facility and $170 million under its revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The borrowings were made in connection with a distribution of Enhabit’s common stock to stockholders of Encompass Health Corp. Enhabit used the loan proceeds to finance a cash payment of $566.6 million to Encompass in connection with the distribution and to pay fees and expenses related to the credit facilities and related transactions.

Enhabit entered into the credit agreement for the $400 million term loan A and $350 million revolver on June 1.

Wells Fargo Bank, NA is administrative agent, collateral agent and swingline lender.

Enhabit is a home health and hospice business based in Dallas.

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