Navigation Links
Brookdale Amends and Extends Corporate Line of Credit
Date:2/27/2009

NASHVILLE, Tenn., Feb. 27 /PRNewswire-FirstCall/ -- Brookdale Senior Living Inc. (NYSE: BKD) announced today that the Company and its lenders have entered into a Second Amended and Restated Credit Agreement. The amended credit agreement consists of a $230 million revolving loan facility and matures in August 2010. Additionally, the Company announced that it has recently closed on separate unsecured letter of credit facilities of up to $48.5 million in the aggregate. The letter of credit facilities mature in November 2011.

Bill Sheriff, Brookdale's CEO, commented, "We are very happy to have successfully completed these transactions. Accomplishing these financings in very challenging capital markets is a real testament to the fundamentals that underpin our core senior living business. With the transactions announced today, we have now extended all of our corporate-level financings that were due this year. In addition, we recently extended $88 million in mortgage debt initially due in 2009 by two years. We also expect to exercise our contractual extension options on an additional $131 million of mortgage debt due in 2009 when the options become exercisable in the second quarter. After these actions, we will have virtually no mortgage debt maturities until 2011 and believe that Brookdale will be well-positioned from a financial perspective."

About Brookdale

Brookdale Senior Living Inc. is a leading owner and operator of senior living communities throughout the United States. The Company is committed to providing an exceptional living experience through properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. Currently the Company owns and operates independent living, assisted living, and dementia-care communities and continuing care retirement centers, with 548 communities in 35 states and the ability to serve approximately 52,000 residents.

For more information regarding Brookdale and to be added to our email distribution list, please visit www.brookdaleliving.com.

Safe Harbor

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements relating to our expectation that we will be able to extend existing debt prior to its maturity. Words such as "expect(s)" and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. We can give no assurance that our expectations will be attained. Factors that could cause actual results to differ materially from our expectations include, but are not limited to, the risk that we may not be able to satisfy the conditions precedent to exercising the extension options associated with certain of our debt agreements and other risks detailed from time to time in our filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.


'/>"/>
SOURCE Brookdale Senior Living Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Brookdale Announces Third Quarter Common Stock Dividend of $0.50
2. Brookdale Announces Third Quarter 2007 Release and Earnings Call
3. Brookdale Announces Third Quarter 2007 Results
4. Brookdale Senior Living Announces Enhanced Web Site
5. Brookdale Announces Fourth Quarter Common Stock Dividend of $0.50
6. Brookdale Senior Living Announces Changes in Senior Management and Board of Directors
7. Brookdale Announces Fourth Quarter and Full Year 2007 Release and Earnings Call
8. Brookdale Announces Fourth Quarter and Full Year 2007 Results
9. Brookdale to Present at Citi Small & Mid-Cap Conference on March 17
10. Brookdale to Present at Lehman Global Healthcare Conference on March 19
11. Brookdale Board of Directors Authorizes $150 Million Share Repurchase Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... 13, 2017 , ... The American Board of Family Medicine's (ABFM) Board of ... Executive Officer, succeeding Dr. James C. Puffer upon his retirement. Dr. Newton will serve ... Puffer’s retirement at the end of 2018. Upon assuming the role of President and ...
(Date:10/13/2017)... ... ... PurhealthRX , a leading Health and Nutrition Company, is announcing the ... spectrum CBD oil will revolutionize the rapidly growing CBD market by reducing the amount ... into liquid products, while reducing costs to end users. , The team of researchers ...
(Date:10/13/2017)... ... October 13, 2017 , ... Lori R. Somekh, founder ... of ElderCounsel, a national organization of elder law and special needs planning attorneys. “Membership ... rules. It also provides a forum to network with elder law attorneys nationwide,” said ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance that covers ... companies have a waiver for care if the client has a cognitive impairment diagnosis. ... pays for care, is often waived, so the benefits from their insurance start immediately,” ...
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading network for ... for action towards gender equality at their inaugural Summit in New York City in ... reached a social audience of over 3 million. To watch the Mobilize Women video, ...
Breaking Medicine News(10 mins):
(Date:9/28/2017)... , Sept. 28, 2017 Cohen Veterans ... advance the use of wearable and home sensors for ... disorders. Early Signal Foundation, a nonprofit organization focused on ... will provide an affordable analytical system to record and ... ...
(Date:9/23/2017)... , Sept. 22, 2017 Janssen Biotech, ... complete response letter from the U.S. Food and Drug ... approval of sirukumab for the treatment of moderately to ... indicates additional clinical data are needed to further evaluate ... to severely active RA. ...
(Date:9/18/2017)... , Sept. 18, 2017  PMD Healthcare of ... Pharmacy of Kalamazoo, Mich. , have ... service that expedites and streamlines patient and provider access ... 2.0, and wellness management services.  ... used to measure lung function for a variety of ...
Breaking Medicine Technology: