Brookdale Senior Living (BKD) refinanced more than $300 million of 2027 debt maturities while increasing liquidity.
The new loan, which bears interest at a fixed rate of 6.14%, is interest only for the first two years and matures in January 2032, the company said Monday in a statement.
Brookdale obtained a $344.2 million loan under an August 2017 credit facility on Dec. 20 and used the net proceeds to repay $312.5 million of variable rate debt due September 2027.
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