Skilled Healthcare Group Inc., a Foothill Ranch-based nursing home operator, said Monday it’s struck a financing deal worth $460 million that stands to raise the amount of interest the company pays this year.
Skilled said it took out a credit line and loan to pay off existing debt that was coming due in 2012.
The company’s new $360 million term loan matures in early 2016. A $100 million revolving credit line is due in 2015.
The loan and credit line have an interest rate equal to the London Interbank Offered Rate plus 3.75%.
The interest rate on the debt is higher than on Skilled’s prior loan and credit line.
The company said it expects to pay $4.8 million more in interest expense this year than previously expected.
Last year, Skilled paid about $33 million in interest.
The company, which operates 100 nursing homes in California and other states, has yearly revenue of $760 million.
