Navigation Links
Brookdale Announces New Corporate Line of Credit
Date:2/23/2010

NASHVILLE, Tenn., Feb. 23 /PRNewswire-FirstCall/ -- Brookdale Senior Living Inc. (NYSE: BKD) announced today that the Company has entered into a new revolving credit facility. The new facility has a commitment of $100 million, with an option to increase the commitment to $120 million. The new facility replaces the Company's existing $75 million revolving credit agreement that was scheduled to expire in August 2010.  The revolving line of credit may be used to finance acquisitions and fund working capital, capital expenditures and other general corporate purposes.  GE Capital, Healthcare Financial Services, acts as administrative agent as well as a lender under the new line.  

The new facility matures on June 30, 2013 and is secured by a first priority security interest in certain of the Company's properties.  The commitment will be limited to $80 million pending finalization of documentation for the remaining $20 million commitment, which is expected within the next week. The availability under the line may vary from time to time as it is based on borrowing base calculations related to the value and performance of collateral securing the facility.  

Bill Sheriff, Brookdale's CEO, commented, "We are pleased that GE Capital has agreed to provide this financing for Brookdale.  The new facility provides us with increased flexibility and capacity which will be instrumental in Brookdale's future growth."

"GE's healthcare industry expertise enables us to continue to support our customers' growth opportunities and help them meet their business goals," said Brian Beckwith, senior managing director for GE Capital, Healthcare Financial Services' real estate group.

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 565 communities in 35 states and the ability to serve over 53,000 residents.

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

About GE Capital, Healthcare Financial Services

With over $17 billion invested, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 30 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare.

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 expectations regarding the impact of the new facility, the Company's growth prospects and the finalization of documentation for the increased commitment (and timing thereof). 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 finalize the documentation for the increased commitment in accordance with our expectations 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.

Back to top

RELATED LINKS
www.brookdaleliving.com

'/>"/>

SOURCE Brookdale Senior Living Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. Brookdale Announces Third Quarter 2009 Results; CFFO per Share Increases 43%
2. Brookdale to Present at JMP Securities Healthcare Focus Conference
3. Brookdale Announces Second Quarter 2009 Release and Earnings Call
4. Brookdale Announces Completion of Follow-On Offering
5. Brookdale to Present at JMP Securities Research Conference
6. Brookdale to Present at Bank of America and Merrill Lynch 2009 Health Care Conference
7. Brookdale Announces First Quarter 2009 Results; CFFO of $0.49 per Share
8. Brookdale Announces First Quarter 2009 Release and Earnings Call
9. Brookdale to Present at Barclays Capital Global Healthcare Conference March 11
10. Brookdale Announces Fourth Quarter and Full Year 2008 Results
11. Brookdale Amends and Extends Corporate Line of Credit
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/4/2016)... ... December 03, 2016 , ... While James Earl Jones is known for myriad ... a show called "Front Page". One of the forthcoming episodes examines mammogram techniques; a ... plummeted in large part due to early detection. Like any other disease, treatments have ...
(Date:12/4/2016)... ... December 04, 2016 , ... Patients ... can now take advantage of a cosmetic procedure known as Carbon Dioxide ... reduces the appearance of age spots, fine lines, uneven coloration, wrinkles, scarring, ...
(Date:12/2/2016)... ... , ... Lori G. Cohen and Sara K. Thompson , ... American Conference Institute’s 21st Drug & Medical Device Litigation Conference , taking place ... conference. , Cohen, who chairs the firm’s Pharmaceutical, Medical Device & Health Care Litigation ...
(Date:12/2/2016)... AL (PRWEB) , ... December 02, 2016 , ... ... from across the Dothan-Wiregrass Area in Alabama are expected to attend the UNCF ... Schmitz, will help provide scholarship funds for area students and operating support to ...
(Date:12/2/2016)... ... ... The annual time frame to change Medicare health and prescription drug coverage, known ... Medicare beneficiaries who are looking to switch from their current plan to a Medicare ... during this period order for their new policy to go into effect in 2017. ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... , December 2, 2016 ... "In Vitro Diagnostics/IVD Market by Product (Instruments, Reagents, ... Application (Diabetes, Oncology, Cardiology, Nephrology, Infectious Diseases) - ... market is valued at USD 60.22 Billion in ... a CAGR of 5.5% during the forecast period ...
(Date:12/2/2016)... , December 2, 2016 ... Awards Committee honored excellence in research, development and innovation ... The gala dinner was held in the presence of ... the Russian Federation , Natalia Sanina, ... Mikhail Murashko , Head of Roszdravnadzor, National Service ...
(Date:12/2/2016)... RICHMOND, British Columbia , December 2, 2016 ... Produkt, den INSTI HIV-Selbsttest, bei den Mitgliedern des Apothekenbundes von Kenia eingeführt. ... ... INSTI HIV Self Test! (PRNewsFoto/bioLytical Laboratories) ...      (Photo: http://photos.prnewswire.com/prnh/20161201/444905 ) ...
Breaking Medicine Technology: