Buckingham Senior Living gets final OK of $5 million DIP facility

By Sarah Lizee

Olympia, Wash., Aug. 25 – Buckingham Senior Living Community, Inc. received final approval to access a $5 million debtor-in-possession senior secured facility with bond trustee UMB Bank, NA as lender, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

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

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

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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