Full Press Release Details
Sonida Senior Living Completes $80 Million Refinancing Addressing All Debt Maturities Through
Transaction includes up to $50 million of additional capital for future
DALLAS, March 10, 2022 Sonida Senior Living, Inc. (NYSE: SNDA), (the Company or Sonida Senior Living ) one
of the nation s leading senior living owner-operators, announced that it has entered into a term loan agreement to refinance certain existing mortgage debt. The transaction includes an initial term loan of $80 million and up to
$50 million of additional capital, including an uncommitted $40 million accordion, to fund future growth initiatives.
The term loan, which is
secured by 10 of the Company s senior living communities, addresses all debt maturities through mid-2024, reduces the company s total debt by $38.5 million and reduces the blended interest rate
for the ten communities by approximately 63 basis points while also including future opportunities for additional, performance-based interest rate reductions.
This refinancing completes the Company s balance sheet transformation, addresses all near-term debt maturities and positions the Company for its
next phase of growth, which includes a focus on attractive ROIC capital expenditures within our existing portfolio as well as acquisitions, said Kimberly S. Lody, President and CEO.
Transaction details include:
Greystone Senior Housing Capital Markets team acted as exclusive advisor in arranging the financing on behalf of the Company.
Dallas-based Sonida Senior Living is one of the nation s leading operators of independent living, assisted living and memory care communities for
senior adults. The Company operates 77 communities that are home to nearly 7,000 residents across 18 states providing comfortable, safe, affordable communities where residents can form friendships, enjoy new experiences and receive personalized care
from dedicated team members who treat them like family.
For more information, visit www.sonidaseniorliving.com or connect with the Company on
Facebook, Twitter or LinkedIn.
For more information, contact: Kimberly Lody (972) 308-8323,