Silvercrest, Goldman Sachs Among Backers of Eagle Bankruptcy
19 Januar 2022 - 12:25AM
Dow Jones News
By Becky Yerak
Silvercrest Asset Management, Goldman Sachs Asset Management and
American Equity Investment Life Insurance are among the bondholders
backing the bankruptcy restructuring of Eagle Senior Living.
The nonprofit continuing-care community operator, which has 600
employees at 15 facilities, sought protection from creditors Friday
with a proposed restructuring agreement in hand.
The three investment firms hold or advise funds with secured
bonds with principal amounts totaling $135.6 million. Eagle Senior
Living owes $252.9 million to creditors, mostly municipal bond
holders. The pandemic has increased its costs, such as adding
staffing hours to take residents' temperatures three times a
day.
Write to Becky Yerak at becky.yerak@wsj.com
(END) Dow Jones Newswires
January 18, 2022 18:10 ET (23:10 GMT)
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