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Extendicare Announces $450 Million Inaugural Offering of Investment Grade Senior Unsecured Notes
The notes carry a provisional BBB rating from Morningstar DBRS and the company plans to use proceeds to repay its term credit facility.
- On Thursday, April 9, 2026, Extendicare Inc. priced an offering of $450 million in senior unsecured notes due April 14, 2031.
- Extendicare operates 99 long-term care homes across Canada and delivers approximately 24.0 million hours of home health care services annually, employing approximately 31,500 people.
- Morningstar DBRS assigned the notes a provisional rating of BBB with a stable trend; CIBC Capital Markets acts as Bookrunner and BMO Capital Markets as Co-Lead Manager.
- The offering is being sold on a private placement basis to accredited investors in Canada, with closing expected on or about April 14, 2026.
- Extendicare will use proceeds to repay its term credit facility, with the balance allocated for working capital and general corporate purposes; the notes carry a 4.345% interest rate.
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Leaning Left7Leaning Right2Center0Last UpdatedBias Distribution78% Left
Bias Distribution
- 78% of the sources lean Left
78% Left
L 78%
R 22%
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