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Encompass Health announces private offering of senior notes
The company plans to use the proceeds to redeem $400 million of 2028 notes and repay $100 million of revolving credit debt.
On Thursday, May 14, 2026, Encompass Health Corp. announced a private offering of $500 million in senior notes maturing in 2034, subject to market and customary closing conditions.
The Company intends to use net proceeds to redeem $400 million in outstanding 4.500% Senior Notes due 2028 and repay $100 million under its senior secured revolving credit facility.
Interest on the Notes will be paid semiannually in arrears on June 1 and December 1, beginning December 1, 2026, with closing expected on May 29, 2026.
Encompass Health is the largest owner and operator of inpatient rehabilitation hospitals in the United States, maintaining 175 hospitals across 39 states and Puerto Rico.
The Notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, with guarantees from subsidiaries that guarantee the Company's credit agreement borrowings.