Skilled Healthcare $420 million credit facility to launch Friday

By Sara Rosenberg

New York, May 19 - Skilled Healthcare Group Inc. is scheduled to hold a bank meeting on Friday to launch its proposed $420 million credit facility, according to a syndicate document.

Credit Suisse First Boston is sole lead arranger and sole bookrunner on the deal.

The facility consists of a $50 million five-year revolver (B1) with a 50 basis point commitment fee, a $225 million seven-year term loan B (B1) and a $145 million 71/2-year second-lien term loan (Caa1), the document said.

Proceeds will be used to refinance existing debt and fund a dividend payment.

Skilled Healthcare is a Foothill Ranch, Calif., operator of long-term care facilities and a provider of a full continuum of post-acute care services.

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