SIMS ASSISTS MULTI-FACILITY SENIOR LIVING PROVIDER IN COMPLEX DEBT MODIFICATION TO MINIMIZE THE IMPACT OF CORPORATE TAX RATE CHANGES
SIMS ASSISTS MULTI-FACILITY SENIOR LIVING PROVIDER IN COMPLEX DEBT MODIFICATION TO MINIMIZE THE IMPACT OF CORPORATE TAX RATE CHANGES
3 PagesCASE STUDY PARTNERED RIGHT ® In early 2018, United Methodist Homes (“UMH”) approached Sims regarding three series of outstanding debt that had been issued in 2013 as a Direct Placement with Citizens Bank (together, the “Series 2013 Debt”). This was prompted by the recent passage of the Tax Cuts & Jobs Act of 2017, and a reduction in the Corporate Tax Rate, which triggered an increase in the interest rate on the Series 2013 Debt. UMH sought Sims’ assistance in evaluating options for addressing the interest rate increase on this debt along with interest rate swaps underlying the debt. The Series 2013 Debt had been issued for multiple purposes, including: i) refinancing several series of outstanding debt and ii) financing various renovations, additions and/or improvements,
