The Ensign Group, the parent company of the Ensign group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services and real estate, has amended its existing revolving credit facility with commitments totaling $800 million and extended the maturity date to Aug. 19, 2031.
The amended credit facility amends the company’s previous revolving credit facility and provides enhanced liquidity and financial flexibility to support its ongoing growth strategy, including acquisitions, capital investments and other general purposes.
“We are pleased to complete this financing with the strong support of our lending partners,” Barry Port, CEO of Ensign, said. “The increased capacity and long-term commitment from our banking group reflect confidence in our operating model, disciplined growth strategy and financial strength. This facility positions us well to continue pursuing opportunities that create long-term value for our stakeholders while maintaining our conservative approach to capital management.”
Chad Keetch, chief investment officer of Ensign, added, “Our balance sheet remains a significant competitive advantage. The amended facility provides substantial liquidity and flexibility as we continue to invest in both healthcare operations and real estate opportunities throughout the post-acute care continuum.”
Truist Bank serves as administrative agent for the credit facility, and the lending syndicate includes Citibank, The Huntington National Bank, U.S. Bank, Wells Fargo Bank, Bank of America, BMO Bank, PNC National Bank and Synovus Bank.
