ENSIGN GROUP, INC

$800m committed across 1 active facility, next covenant test Sep 30, 2026. ENSG

Services-Skilled Nursing Care Facilities

Recent changes

  1. Aug 20, 2026ENSIGN GROUP, INC signs $800m FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, matures Aug 2031SEC ↗

Total leverage: when the limit steps, and which way the company's ratio has been moving.

4.28x2.00x-0.29x
Tested quarterly93.6%ratio 0.24x, estimated, vs 3.75x limit in force at Jun 30, 20263.75x
The Borrower will maintain, as of the end of each Test Period, commencing with the Test Period ended on September 30, 2026, a Total Leverage Ratio of not greater than 3.75:1.00 [=3.75x] (the “Maximum Total Leverage Threshold”);
Read the filing on sec.gov ↗
Tested quarterly4880.0%ratio 74.70x, estimated, vs 1.50x limit in force at Jun 30, 20261.50x
The Borrower will maintain, as of the end of each Test Period, commencing with the Test Period ended on September 30, 2026, an Interest/Rent Coverage Ratio of not less than 1.50:1.00 [=1.5x].
Read the filing on sec.gov ↗

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FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

Signed Aug 19, 2026

Committed
$800m
Matures
Aug 2031
Agent
Truist Bank
TrancheSizeMaturesMargin
Revolving credit facility$800mAug 2031125–200 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level IGreater than or equal to 3.00:1.00200 bps30 bps
Level IILess than 3.00:1.00 but greater than or equal to 2.00:1.00175 bps25 bps
Level IIILess than 2.00:1.00 but greater than or equal to 1.00:1.00150 bps20 bps
Level IVLess than 1.00:1.00125 bps18 bps

Lenders: Truist Securities Inc., Citibank, N.A., The Huntington National Bank, U.S. Bank National Association, Wells Fargo Securities, LLC, Truist Bank, Wells Fargo Bank, N.A., Bank of America N.A., BMO Bank N.A., PNC National Bank, National Association, Pinnacle Bank, a Tennessee chartered bank, d/b/a Synovus Bank

No amendments on file yet.

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