Buckingham Senior Living gets access to $1.5 million of DIP facility

By Sarah Lizee

Olympia, Wash., June 29 – Buckingham Senior Living Community, Inc. received approval to access $1.5 million of a $3.4 million debtor-in-possession senior secured facility with bond trustee UMB Bank, NA as lender, according to an interim order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The facility will mature on Oct. 6, 2021, and interest will be 5 5/8%.

The company also received interim approval to use the cash collateral of UMB Bank.

A final hearing is scheduled for July 19.

The Houston-based owner and operator of a 495-unit continuing care retirement community filed bankruptcy on June 25 under Chapter 11 case number 21-32155.

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