McCarthy & Stone PLC - developer of retirement homes - Suitor Mastiff Bidco Ltd says company enters into GBP275 million senior secured term loan facility with Goldman Sachs Bank USA. "The external debt financing to be provided under the senior secured term loan facility will be used for the purpose of, amongst other things, refinancing the existing indebtedness of McCarthy & Stone and general corporate purposes," Mastiff Bidco says. Mastiff says cash consideration for McCarthy & Stone acquisition will continue to be financed from equity invested by Lone Star Real Estate Fund VI. Mastiff is indirectly wholly-owned by Lone Star Real Estate Fund VI. Back in December, McCarthy & Stone shareholders approved a GBP647 million cash takeover bid from Mastiff Bidco.
Current stock price: 119.80 pence for GBP644.2 million market capitalisation
Year-to-date change: flat
By Eric Cunha; ericcunha@alliancenews.com
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