Sunrise Senior Living amends loan, revising financial delivery deadlines

By Sara Rosenberg

New York, March 18 - Sunrise Senior Living Inc. amended its credit facility, modifying delivery deadlines for various 2006 and 2007 annual financial information and various 2007 and 2008 quarterly financial information, according to a news release.

Under the amendment, the company has until April 15 to deliver 2006 annual financial statements, as opposed to until March 17.

The company also has until April 30 to deliver an internally prepared draft balance sheet and income statement for the 2007 fiscal year, as opposed to until March 17.

Delivery of audited 2007 financial statements is now due by July 31, pushed back from June 30.

Delivery of 2008 first quarter unaudited financial statements is now due by Aug. 20.

And, delivery of second quarter unaudited financial statements is now due by Sept. 10.

The amendment was completed on March 13.

The company paid the lenders an aggregate fee of $500,000 for entering into the amendment.

Sunrise Senior Living is a McLean, Va.-based provider of senior living services.

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