Sienna Announces Completion of a $200 Million Unsecured Revolving Credit Facility
“We are pleased with the recognition by our lending partners of the strength of Sienna’s business and balance sheet, which has resulted in our ability to source an unsecured credit facility on favorable terms. This facility contributes to the strength of our liquidity and provides Sienna with increased financial flexibility. We are grateful for the continued support from our lending partners,” said
Sienna intends to use the net proceeds from the Credit Facility for general corporate purposes. As at today’s date, Sienna’s liquidity comprised of cash on hand and available credit facilities is approximately
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Forward-Looking Information
Certain of the statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements generally use forward-looking words, such as “anticipate,” “continue,” “could,” “expect,” “may,” “will,” “estimate,” “believe,” “goals” or other similar words and include, among other things, statements regarding the intended use of proceeds from the Credit Facility and maintenance of a “BBB” credit rating.. These statements are subject to significant known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. The forward-looking statements in this news release are based on information currently available and what management currently believes are reasonable assumptions. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.
For further information, please contact:
Chief Financial Officer & Chief Investment Officer
(905) 489-0787
nitin.jain@siennaliving.ca
Source: Sienna Senior Living