EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the Eagle-based parent company of the Pennant group of affiliated home health, hospice and senior living companies, has increased its credit facility by $100 million to an aggregate of $250 million.
The borrowings are supported by a lending consortium arranged by Truist Securities. The new facility expires on July 31, 2029.
“This amended facility further strengthens our balance sheet, and together with our strong operating cash flow, creates significant dry powder for future growth,” says Brent Guerisoli, Pennant’s CEO.
In addition to refinancing existing borrowings, the proceeds of the credit facility will be used to fund acquisitions, cover working capital needs and for other business purposes.