MARKHAM, Ontario, April 14, 2026 (GLOBE NEWSWIRE) -- Extendicare Inc. ("Extendicare" or the "Company") (TSX:EXE) announced today the successful closing of its previously announced offering (the "Offering") of $450 million aggregate principal amount of 4.345% senior unsecured notes due April 14, 2031 (the "Notes"). The Notes have been assigned a final rating of BBB, with a stable trend, by Morningstar DBRS.
The Company used approximately $427.7 million of the net proceeds of the Offering to (i) repay in full the indebtedness owing under its term credit facility, and (ii) repay a portion of the indebtedness owing under its revolving credit facility, with the balance of the net proceeds expected to be used for working capital and other general corporate purposes, including the repayment of other existing indebtedness.
In conjunction with the debt repayment, Extendicare's existing syndicated credit facilities have been amended and restated to reflect an investment grade credit rating structure, including the release of all security previously granted to the lenders, such that the Company's remaining revolving credit facility will be senior unsecured debt that ranks equally and pari passu with the Notes.
The Notes have not been and will not be registered under the United States Securities ...
