Brookdale Announces Beneficial Refinancing Transaction to Address a Significant Portion of 2027 Debt Maturities at a Favorable Rate

Core Viewpoint - Brookdale Senior Living Inc. has successfully completed an advance refinancing of over $300 million of its 2027 debt maturities, enhancing its liquidity in the process [1][2]. Financing Details - On December 20, 2024, Brookdale secured a loan of$344.2 million under its Master Credit Facility Agreement, which was utilized to repay $312.5 million of variable rate debt due in September 2027 [2][4]. - The new debt is secured by non-recourse first priority mortgages on 47 communities, which also secure approximately$435 million of additional outstanding mortgages [3][4]. - The loan carries a fixed interest rate of 6.14%, is interest-only for the first two years, and matures in January 2032 [4]. Management Commentary - The Executive Vice President and Chief Financial Officer of Brookdale expressed satisfaction with the refinancing transaction, highlighting its proactive management of the balance sheet and the favorable rate achieved [5]. Company Overview - Brookdale Senior Living Inc. is a leading operator of senior living communities in the United States, committed to enriching the lives of seniors through various living arrangements, including independent living, assisted living, memory care, and continuing care retirement communities [5]. - As of September 30, 2024, the company operates 648 communities across 41 states, serving approximately 58,000 residents [5].