Extendicare Announces New $275 Million Senior Secured Credit Facility
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Extendicare Inc. has secured a new $275 million senior secured credit facility with Canadian banks, replacing its former credit facilities. The facility includes a $145 million revolving credit for general purposes and a $130 million delayed draw term loan to repay existing debentures.
November 08, 2024 | 7:30 pm
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Extendicare Inc. has entered into a new $275 million senior secured credit facility, which includes a $145 million revolving credit and a $130 million delayed draw term loan to manage existing debt.
The new credit facility provides Extendicare with increased financial flexibility and the ability to manage its existing debt more effectively. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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