Forward for Specialty Finance
Deal Summary
Extendicare
$275,000,000
Revolving & Delayed Draw Term Loan
CIBC, Bank of Montreal, RBC, TD, NBC
Deal Notes:
$145M revolving credit for working capital, $130M delayed draw term loan for debt repayment; 3-year term with options for 1-year extensions; secured by LTC homes in Ontario; facility has provisions for increase by $50M
CIBC as administrative agent, CIBC and BMO as joint bookrunners and lead arrangers; Torys advised Extendicare, McCarthy Tétrault advised lenders
