Kindred Healthcare Expands Credit Capacity by $200 Million
Kindred Healthcare Inc. (NYSE:KND) announced the successful completion of amendments to increase its senior secured term loan facility by $100 million,?and expand the borrowing capacity under its senior secured asset-based revolving credit agreement by the same amount.
Net proceeds of the additional term loan borrowings, issued at 97.5%, were used to pay down a portion of the outstanding balance under the revolving credit facility. The aggregate amount currently outstanding under the term loan facility is $791 million.
In connection with the $100 million expansion of the borrowing capacity under its revolving credit, Kindred modified its accounts receivable borrowing base, allowing the company to more easily access the full amount of the available credit. Kindred will have $450 million of unused borrowing capacity under the revolving credit facility.
Other terms of the term loan and revolving credit facilities were unchanged.
?These amendments create an additional $200 million of credit capacity to enhance our ability to expand our continuum of post-acute care services,? CEO Paul J. Diaz said in a statement. ?We believe this additional credit capacity along with our ability to generate strong free cash flows provides us with a great opportunity to accelerate our cluster market strategy, further invest in our home health and hospice operations and expand our higher margin businesses.?
Lancaster Pollard Closes $32.2 Million of Senior Housing Loans
- Lancaster Pollard recently closed on a $7 million HUD LEAN mortgage loan for Family Health & Rehabilitation Center, a 72-bed nursing facility in Wichita, Kan. The loan, insured by the FHA Section 232/223(f) program, was used to refinance the property to take advantage of low interest rates, with a 35-year term and amortization. In addition, the borrower was able to use loan proceeds to finance approximately $600,000 in owner-elective repairs to the facility, including the expansion of its therapy room. Bill Wilson, out of Lancaster Pollard?s Lawrence, Kan. office, was the lead banker on the transaction.
- The Inn at Renaissance Village, a 101-unit assisted living and memory care facility in Middletown, Ohio, recently closed on a $9.9 million refinance of its existing construction debt held by a bank. Lancaster Pollard, led by Kass Matt out of the firm?s headquarters in Columbus, Ohio, used the FHA Sec. 232/223(f) program to complete the transaction, allowing the borrower to eliminate the renewal risk and recourse associated with bank financing. The refinancing reduced the interest rate by over 4 percentage points and will generate annual debt service savings of $325,000.
- Lancaster Pollard recently closed on two loans insured by the FHA Sec. 232/223(a)(7) program totaling $11.7 million. The loans will refinance two of Provider Services? skilled nursing facilities in Ohio?Riverview Pointe and Dayspring Care Center. The refinancing lowered the interest rates significantly and will generate over $200,000 in combined annual debt service savings. Kass Matt, out of the firm?s headquarters in Columbus, Ohio, led the transaction.
- Lancaster Pollard recently announced the refinancing of West Ridge Care Center, a skilled nursing facility in Cedar Rapids, Iowa, using the FHA Sec. 232/223(a7) program. The $3.6 million loan has a low interest rate and a 31-year term that will allow the borrower to benefit from nearly $94,000 in annual debt service savings. Quintin Harris, Lancaster Pollard?s healthcare banker for Iowa, spearheaded the transaction.
Regal Lifestyle Communities Prices $138.8 million IPO
Regal Lifestyle Communities Inc. announced on Friday the filing for a final prospectus for its initial public offering of 13,879,700 common shares with the securities commissions of all provinces and territories of Canada. The common shares will be issued at a price of $10.00 per common share and are expected to provide shareholders with an annual yield of 7.0%; the offering is expected to yield a gross proceeds of approximately $138.8 million.?
A syndicate of underwriters co-led by CIBC and BMO Capital Markets is underwriting the offering. Regal has granted the underwriters an over-allotment option to purchase up to an additional 2,081,955 common shares which, if exercised in full, would increase the total gross proceeds of the offering to approximately $159.6 million.
The offering is expected to close on Oct. 16, 2012. Concurrent with the completion of the IPO, Regal Lifestyle Communities will acquire a 10-property portfolio of retirement communities offering independent living and assisted living that has more than 1,400 units.
The Toronto Stock Exchange has conditionally approved the listing of the common shares under the symbol ?RLC.?
Cambridge Provides $24.2 Million Loan for Chicago Senior Apartments
Cambridge Realty Capital Companies has provided a $24.2 million FHA-insured HUD mortgage loan to refinance Maple Pointe Apartments, a 343-unit senior apartment complex in Chicago, Ill.
The fully-amortized, 35-year term loan was arranged using HUD?s Section 232/223(a)(7) funding program and was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in HUD loans.
Greystone Expands Bridge Loan Services to Healthcare Sector
Greystone, a national provider of multifamily and commercial mortgage loans, announced on Thursday it was launching a healthcare bridge loan service that will be overseen by Steve Germano, managing director of the Greystone bridge loan platform.
The bridge loan program enables multifamily and now healthcare properties to quickly and readily obtain short-term financing?up to $30 million or more?during acquisition, stabilization, rehabilitation, and repositioning initiatives.?
?The availability and accessibility of bridge loans for healthcare and multifamily properties is vital for owners, property operators and intermediaries who need interim financing as they plan for a lengthier period of time,? said Germano. ?Both sectors have unique challenges and requirements, and with Greystone?s successful history originating, underwriting, and servicing loans across multiple segments clients can be confident that their needs are being met, both in the short and long-term.?
?Email This Post 
?Print This Post Category: Finance, HUD, Senior Care, Senior Housing
dolly parton i will always love you beverly hilton hotel whitney houston found dead i will always love you whitney houston 2012 grammy awards powerball results pebble beach golf
VIRUS REMOVAL
ReplyDeleteIs Your Computer Sluggish or Plagued With a Virus? – If So you Need Online Tech Repairs
As a leader in online computer repair, Online Tech Repairs Inc has the experience to deliver professional system optimization and virus removal.Headquartered in Great Neck, New York our certified technicians have been providing online computer repair and virus removal for customers around the world since 2004.
Our three step system is easy to use; and provides you a safe, unobtrusive, and cost effective alternative to your computer service needs. By using state-of-the-art technology our computer experts can diagnose, and repair your computer system through the internet, no matter where you are.
Our technician will guide you through the installation of Online Tech Repair Inc secure software. This software allows your dedicated computer expert to see and operate your computer just as if he was in the room with you. That means you don't have to unplug everything and bring it to our shop, or have a stranger tramping through your home.
From our remote location the Online Tech Repairs.com expert can handle any computer issue you want addressed, like:
• - System Optimization
• - How it works Software Installations or Upgrades
• - How it works Virus Removal
• - How it works Home Network Set-ups
Just to name a few.
If you are unsure of what the problem may be, that is okay. We can run a complete diagnostic on your system and fix the problems we encounter. When we are done our software is removed; leaving you with a safe, secure and properly functioning system. The whole process usually takes less than an hour. You probably couldn't even get your computer to your local repair shop that fast!
Call us now for a FREE COMPUTER DIAGONISTIC using DISCOUNT CODE (otr214424@gmail.com) on +1-914-613-3786 or chat with us on www.onlinetechrepairs.com.
Problem: HP Printer not connecting to my laptop.
ReplyDeleteI had an issue while connecting my 2 year old HP printer to my brother's laptop that I had borrowed for starting my own business. I used a quick google search to fix the problem but that did not help me.
I then decided to get professional help to solve my problem. After having received many quotations from various companies, i decided to go ahead with Online Tech Repair (www.onlinetechrepairs.com).
Reasons I chose them over the others:
1) They were extremely friendly and patient with me during my initial discussions and responded promptly to my request.
2) Their prices were extremely reasonable.
3) They were ready and willing to walk me through the entire process step by step and were on call with me till i got it fixed.
How did they do it
1) They first asked me to state my problem clearly and asked me a few questions. This was done to detect any physical connectivity issues with the printer.
2) After having answered this, they confirmed that the printer and the laptop were functioning correctly.
3) They then, asked me if they could access my laptop remotely to troubleshoot the problem and fix it. I agreed.
4) One of the tech support executives accessed my laptop and started troubleshooting.
5) I sat back and watched as the tech support executive was navigating my laptop to spot the issue. The issue was fixed.
6) I was told that it was due to an older version of the driver that had been installed.
My Experience
I loved the entire friendly conversation that took place with them. They understood my needs clearly and acted upon the solution immediately. Being a technical noob, i sometimes find it difficult to communicate with tech support teams. It was a very
different experience with the guys at Online Tech Repairs. You can check out their website www.onlinetechrepairs.com or call them on 1-914-613-3786.
Would definitely recommend this service to anyone who needs help fixing their computers.
Thanks a ton guys. Great Job....!!