DBRS Finalizes Rating of A (low) on 3.474% Series B Senior Secured Debentures of Leisureworld

DBRS has today finalized the provisional rating of A (low) with a Stable trend, on the new $322 million Series B Senior Secured Debentures issue of Leisureworld Senior Care LP. The debentures, maturing February 3, 2021, have an annual coupon rate of 3.474% and interest shall be payable semi-annually. Proceeds from the issue will be used to repay the existing 4.814% Series A Senior Secured Debentures in full (expected February 24, 2014) as well as to pay for associated early redemption and issuance costs.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodology is Base General Methodology for Corporate Companies (Appendix 1), which can be found on our website under Methodologies.