Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Encompass Health Corp | form8k_05102011.htm |
| EX-99.1 - EXHIBIT 99.1 - Encompass Health Corp | exhibit99_1.htm |
Credit Facility Amendment
ü Added $100 million Term Loan A with 2016 maturity
― Initial rate: LIBOR + 250; no LIBOR floor
― Amortizes 5%, 5%, 7.5% and 10% per annum
ü Revolver spread reduced 100 bps
― Maturity extended to 2016
― Initial rate: LIBOR +250; no LIBOR floor
ü No other material changes to terms or covenants
1
Exhibit 99.2
(2) Does not include $387.4 million of convertible perpetual preferred stock and capital leases and other note payables.
Increasing Initial Call of the 10.75% Senior Notes
2
Call schedule:
June 15, 2011 (price 105.375);
June 15, 2012 (price 103.583);
June 15, 2013 (price 101.792);
June 15, 2014 and thereafter
(price 100.000)
(price 100.000)
$500
Revolver
L+250
§Updated plan to call $335 million in principal on June 15, 2011 (cash use approx. $353 million)
• $100 million term loan, $77 million cash on hand resulting from the $120 million senior
note offering in March 2011, and borrowings under the $500 million revolver
note offering in March 2011, and borrowings under the $500 million revolver
• Loss on early extinguishment of debt is expected to be approx. $26 million.
§The Company now expects interest expense(1) to be approx. $70 million in first half of 2011
and approx. $57 million in the second half of 2011.
and approx. $57 million in the second half of 2011.
Proforma June 30, 2011 Debt Maturity Profile (2)
$49 LC
$275
Undrawn
Undrawn
2016
Exhibit 99.2