Daily News: November 27, 2012

Oxford Finance Provides $21.5 Million Facility to Pali

Oxford Finance announced that it closed a $20 million senior secured term loan and a $1.5 million revolving line of credit with Pali Corporation. Proceeds of the loan are being used to refinance the company’s existing debt and for working capital to support its two skilled nursing facilities in Hawaii.

“Oxford is very pleased to provide capital to support the ongoing operations of Pali’s facilities,” said Christopher A. Herr, managing director for Oxford Finance. “Pali has a committed and experienced management team that is highly regarded in the healthcare community, and for more than 25 years, its two Honolulu facilities have been providing excellent care to its patients.”

“I am very grateful for Oxford and the help they can provide us,” said Dr. Edison H. Miyawaki, president of Pali Corporation. “It has been a pleasure working with them and I’m sure we will continue to have an outstanding relationship in the coming years.”

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide.

Pali Corporation consists of two nursing facilities in Honolulu, HI. It has been operating for more than 25 years, providing short-term rehab and long-term care for the elderly.