Community Not-For-Profit Recapitalization

nevilleCCA has served in business and financial services capacity to a community not-for-profit senior campus provider of skilled nursing and assisted living operations located in Cambridge, MA.

 Recent initiatives have included the completion of $20MM in combined recapitalization transactions with a single regional commercial healthcare lender.  Proceeds of the transactions were utilized to refinance and retire existing debt obligations through a private placement revenue bond issue and term debt credit facility; early redemption of a prior revenue bond issue; discounted settlement and retirement of multiple subordinated debt obligations; purchase redemption of interests associated with terminating a tax credit partnership; and funding of new endowment and operating reserve accounts for continuing operations.

The resultant transactions materially improve the capital structure of the company through realization of liquid collateral associated with prior debt obligations as well as a material increase in unrestricted net assets represented by the discounted settlement and elimination of subordinated debt. The renewed and strengthened capital structure ideally supports new programming initiatives as well as prospects for emerging fund raising activities for continuing operations.

©2017 CAPITAL CARE ASSOCIATES, LLC

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