The senior living bond market continues to grapple with bankruptcies and new defaults on the horizon as financial distress persists at the tail end of 2022 Senior living companies accounted for more than $600 million in first-time payment defaults, representing about 46% of the $1.33 billion of total first-time defaults so far in 2022, according […]
Eagle Senior Living
Financings Zeigler Closes $30M For Florida-Based Community Zeigler announed the successful closing of $30 million of Series 2022 Bonds for a Florida-based life plan community. The community — called Vicar’s Landing — will use these funds along with other funds to finance a portion of an ongoing expansion plan, fund a debt service reserve fund, […]
Eagle Senior Living has completed a financial restructuring to emerge from Chapter 11 bankruptcy protection. The company formed in 2018, through the acquisition of 16 communities formerly operated by Brookdale Senior Living (NYSE: BKD). But occupancy and cash flow challenges were “greatly exacerbated” when the Covid-19 pandemic hit, according to court documents, and the company […]
A senior living company with 15 communities in seven states is moving ahead with a Chapter 11 bankruptcy plan that would infuse it with needed funds and reduce some of its debt in the process. American Eagle Delaware Holding Company and its subsidiary Eagle Senior Living this week won confirmation in the U.S. Bankruptcy Court […]
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