The Pennant Group, the parent company of the Pennant group of affiliated home health, hospice and senior living companies, announced that the Company 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,” said Brent Guerisoli, Pennant’s Chief Executive Officer. “As always, we will be disciplined and prudent in our use of these funds, and we will benefit from the added flexibility this facility provides, both in terms of its size, and also its covenants and other terms.”

“We appreciate the continued support of our banking partners and the confidence extended by the new lenders joining the consortium,” added Lynette Walbom, Pennant’s Chief Financial Officer.” Ms. Walbom confirmed that in addition to refinancing existing borrowings, the proceeds of the credit facility would be used to fund acquisitions, cover working capital needs, and for other business purposes.