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The Pennant Group Announces Expansion of Credit Facility

  • The Pennant Group, Inc. increased its credit facility by $100 million to an aggregate total of $350 million via an added term loan.
  • The incremental loan matches the interest rate & maturity date of the existing facility.
  • The lending consortium is led by Truist Securities.
  • Proceeds from the new loan will be used to refinance a portion of outstanding revolving loans.
  • CEO Brent Guerisoli stated the expansion strengthens the balance sheet & provides capacity for future growth.
  • CFO Lynette Walbom confirmed the use of proceeds while highlighting the company's strong cash flow & prudent leverage ratios.
  • The Pennant Group operates through independent subsidiaries providing home health, hospice, & senior living services across 13 western & midwestern states.