Ensign Group and its subsidiaries have got a senior credit loan worth $150 million. The new five-year term loan includes a $75 million revolving credit line that will replace the group’s expiring $50 million accounts receivable line.
The facility also includes another $75 million term loan component, of which around $40 million will be used to refinance an existing mortgage that was previously secured by six of Ensign’s 58 owned facilities. The new credit line has been obtained from a five-bank lending consortium, arranged by SunTrust Robinson Humphrey and Wells Fargo Securities.
