Business
Sonida Senior Living Announces $900 Million of Permanent Debt Financing Commitments in Connection with CNL Healthcare Properties, Inc. Strategic Merger
DALLAS, January 05, 2026--Sonida Senior Living, Inc. ("Sonida" or the "Company") (NYSE: SNDA), a leading owner, operator and investor in senior living communities, announced today that in connection with the previously announced definitive merger agreement (the "Merger Agreement") with CNL Healthcare Properties, Inc. ("CHP"), Sonida has obtained committed permanent debt financing ("Permanent Facilities") of $900 million, with a $350 million accordion feature that allows Sonida to increase the fa
About this update from Sonida Senior Living, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/cf00c902c4d4df052b29476221f3a0a6"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/XA0hzk8DaEEenhp1QkiTuQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTk2MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/cf00c902c4d4df052b29476221f3a0a6","width":480,"height":480}},"lazy":false},{"type":"text","content":"DALLAS, January 05, 2026--(BUSINESS WIRE)--Sonida Senior Living, Inc. ("Sonida" or the "Company") (NYSE: SNDA), a leading owner, operator and investor in senior living communities, announced today that in connection with the previously announced definitive merger agreement (the "Merger Agreement") with CNL Healthcare Properties, Inc. ("CHP"), Sonida has obtained committed permanent debt financing ("Permanent Facilities") of $900 million, with a $350 million accordion feature that allows Sonida to increase the facilities up to $1.25 billion.","length":596,"tagName":"p"},{"type":"text","content":"As previously communicated on November 5, 2025, Sonida will acquire 100% of the outstanding common stock of CHP for stock and cash consideration valued at approximately $1.8 billion. At the time of the Merger Agreement announcement, a 364-day committed bridge financing ("Bridge Loan Facility") of $900 million was provided by RBC Capital Markets ("RBC") and BMO Capital Markets ("BMO") to, among other things, support funding of the cash portion of the purchase price and repay CHP’s existing corporate credit facilities. Sonida also obtained commitments for a $300 million secured revolving credit facility to cancel its existing revolving facility at transaction close, which will now be replaced by the Permanent Facilities.","length":758,"tagName":"p"},{"type":"text","content":"An overview of the newly obtained facilities is as follows:","length":59,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revolving Credit Facility: a new and upsized $375 million four-year secured revolving credit facility ("New Secured RCF") with a pricing matrix between S+200 and S+135 bps depending on leverage. The New Secured RCF reflects a significant redu...