Craegmoor completes £110.5m refinancing

Posted on December 1st, by editor in Caring Times. No Comments

Craegmoor Healthcare, the UK’s sixth biggest provider of elderly and specialist residential care, has completed a £110.5 million refinancing through Barclays Capital, the investment banking division of Barclays Bank plc. The company has also negotiated a £50 million acquisition facility through the structured finance division of Barclays Bank plc. Craegmoor says the two transactions give the company further financial security and the opportunity to expand its portfolio of 177 homes with 4,640 beds. Craegmoor’s finance director Mike Stratford said the refinancing was a clear signal of the confidence of investors in Craegmoor Healthcare, which has become one of the leading providers of residential care since it was established in 1994. Mr Stratford said that, during this time it had built up a strong portfolio of homes across the UK, split between elderly and specialist provision and caring for people across a broad spectrum of needs. “We are pleased with the outcome of the refinancing. The success of this tr

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