Beverly to Open New Credit Line
by September 29, 2003 12:00 am 71 views
Nursing home operator Beverly Enterprises Inc. of Fort Smith on Sept. 18 said it will enter into a new $225 million senior secured credit facility, using some of the proceeds to pay debt.r
The financial package includes a $75 million revolving line of credit and a $150 million term loan. Beverly said it expects to raise about $100 million by issuing subordinated notes.r
Among the debt Beverly said it expects to pay is $180 million of its senior notes due in 2006.r