Nursing Home Chain Wants To Trim $40M Bond Debt In Ch. 11

By Rick Archer (January 14, 2022, 5:39 PM EST) -- A Michigan-based nursing home chain blamed COVID-19 for its Friday Chapter 11 filing in a Delaware bankruptcy court and said it has a plan to trim $40 million from the nearly $235 million in debt left from when the company was founded four years ago.

In its first-day filings, American Eagle said it has struck a deal with its bondholders to refinance a significant part of its debt as it deals with the rising costs and falling occupancy the pandemic has brought to its 15 nursing facilities.

"Today's announcement brings us closer to securing a stronger financial future for Eagle Senior...

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