The Ensign Group Inc. increased the amount it can borrow under its revolving credit line by $200 million to $800 million and extended the maturity date to Aug. 2031.
The San Juan Capistrano operator of post-acute care services said this provides the company added financial flexibility for acquisitions and capital investments.
“The increased capacity and long-term commitment from our banking group reflect confidence in our operating model, disciplined growth strategy and financial strength,” Chief Executive Barry Port said in a statement.
Shares in Ensign were little changed following the announcement at $178.94 apiece with a $10.4 billion market cap (Nasdaq: ENSG).