BIRMINGHAM, Ala., May 6, 2019 /PRNewswire/ -- Encompass Health
Corporation (NYSE: EHC) today issued notice for redemption of
$100 million of the outstanding
principal balance of its 5.75% senior notes due 2024 (the "2024
Notes"). Pursuant to the terms of the 2024 Notes, this optional
partial redemption will be made at a price of 101.917%. The Company
plans to use cash on hand and capacity under its revolving credit
facility to fund the redemption, which will close on June 7, 2019. As a result of this redemption, the
Company expects to record an approximate $2
million loss on early extinguishment of debt in the second
quarter of 2019.
About Encompass Health
As a national leader in
integrated healthcare services, Encompass Health (NYSE: EHC) offers
both facility-based and home-based patient care through its network
of inpatient rehabilitation hospitals, home health agencies and
hospice agencies. With a national footprint that includes 130
hospitals, 221 home health locations, and 59 hospice locations in
37 states and Puerto Rico, the
Company is committed to delivering high-quality, cost-effective,
integrated care across the healthcare continuum. Encompass Health
is ranked as one of Fortune's 100 Best Companies to Work For. For
more information, visit encompasshealth.com, or follow us on our
newsroom, Twitter and Facebook.
Forward-Looking Statements
Statements contained in this press release which are not
historical facts are forward-looking statements. In addition,
Encompass Health, through its senior management, may from time to
time make forward-looking public statements concerning the matters
described herein. All such estimates, projections, and
forward-looking information speak only as of the date hereof, and
Encompass Health undertakes no duty to publicly update or revise
such forward-looking information, whether as a result of new
information, future events, or otherwise. Such forward-looking
statements are necessarily estimates based upon current information
and involve a number of risks and uncertainties. Actual events or
results may differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors.
While it is impossible to identify all such factors, factors which
could cause actual events or results to differ materially from
those estimated by Encompass Health include, but are not limited
to, Encompass Health's ability to comply with extensive, complex,
and ever-changing regulations in the healthcare industry; any
adverse outcome of various lawsuits, claims, and legal or
regulatory proceedings involving Encompass Health, including its
pending DOJ and HHS-OIG investigations and any matters related to
yet undiscovered issues, if any, at acquired companies; potential
disruptions, breaches, or other incidents affecting the proper
operation, availability, or security of Encompass Health's
information systems, including unauthorized access to or theft of
patient, business associate, or other sensitive information;
changes, delays in (including in connection with resolution of
Medicare payment reviews or appeals), or suspension of
reimbursement for Encompass Health's services by governmental or
private payors; and other factors which may be identified from time
to time in Encompass Health's SEC filings and other public
announcements, including Encompass Health's Form 10-K for the year
ended Dec. 31, 2018 and Form 10-Q for
the quarter ended March 31,
2019.
Media Contact:
Hillary
Carnel | 205.970-5912
hillary.carnel@encompasshealth.com
Investor Relations Contact:
Crissy Carlisle | 205.970.5860
crissy.carlisle@encompasshealth.com
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SOURCE Encompass Health Corp.