FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Five Star Quality Care Extends Existing $35 Million Credit Facility to 2016

March 18, 2013, 07:14 AM
Filed Under: Healthcare

Five Star Quality Care, Inc. announced that it has extended the maturity date of its existing $35 million revolving bank credit facility to March 18, 2016. The existing credit facility was scheduled to expire today, March 18, 2013.

In addition to extending the expiration date by three years, certain terms of the credit facility were also amended to reflect current market conditions. For example, interest paid on borrowings under the credit facility was reduced from LIBOR (with a floor of 200 basis points) plus 400 basis points to LIBOR (with no floor) plus 250 basis points. The credit facility remains secured by FVE’s accounts receivable and related collateral.

Jefferies Finance is acting as lender, arranger, administrative agent and collateral agent for the facility.

Five Star Quality Care, Inc. is a senior living and healthcare services company which owns, leases and manages senior living communities, including primarily private pay independent and assisted living communities located throughout the United States. Five Star also operates two rehabilitation hospitals. Five Star is headquartered in Newton, MA.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.