BIRMINGHAM, Ala., March 5, 2021 /PRNewswire/ -- Encompass
Health Corporation (NYSE: EHC) today issued notice for redemption
of $100 million of the outstanding
principal balance of its 5.125% senior notes due 2023 (the "2023
Notes"). The associated redemption date will be April 5, 2021, and the redemption price will be
100.0% of par, plus accrued and unpaid interest, pursuant to the
terms of the 2023 Notes. The Company plans to use cash on hand and
drawings under its revolving credit facility to fund the
redemption. As a result of this redemption, the Company expects to
record an approximate $0.6 million
loss on early extinguishment of debt in the second quarter of
2021.
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 137
hospitals, 241 home health locations, and 82 hospice locations in
39 states and Puerto Rico, the
Company provides high–quality, cost-effective integrated
healthcare. 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, 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, 2020.
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.