The Ensign Group, Inc. Enters $800M Revolving Credit Facility (Extended)

What Happened
On August 19, 2026, The Ensign Group, Inc. announced that it entered into a Fourth Amended and Restated Credit Agreement that increases its existing revolving credit facility by $200.0 million to a total of up to $800.0 million and extends the maturity date to August 19, 2031. Truist Bank acted as administrative agent for a lending syndicate that includes Citibank, Huntington, U.S. Bank, Wells Fargo, Bank of America, BMO, PNC, and PinnacleSynovus. The Company issued a press release about the agreement on August 20, 2026 (filed as Exhibit 99.1).

Key Details

• Total facility: up to $800.0 million (increase of $200.0 million).
• Maturity: extended to August 19, 2031.
• Pricing: Company may choose (i) base rate + margin (0.25%–1.00% per year) or (ii) Term SOFR + margin (1.25%–2.00% per year); margins are set based on the ratio of Consolidated Total Net Debt to Consolidated EBITDA.
• Fees and security: unused commitment fee 0.175%–0.30% per year; drawn commitment fee 1.25%–2.00% per year. Borrowings are joint and several, guaranteed by certain domestic subsidiaries and secured by liens on specified assets.

Why It Matters
This amendment improves the company’s liquidity and extends its borrowing runway through 2031, reducing near‑term refinancing pressure. Borrowing costs will vary based on Ensign’s leverage (Consolidated Total Net Debt / Consolidated EBITDA), so actual interest expense depends on future leverage and rate choices (base rate vs. SOFR). The agreement is documented in the Form 8‑K (Exhibit 10.1) and summarized in the company press release (Exhibit 99.1).