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News Breaks
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October 27, 2009
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| 12:33 EDT |  | SRZ |
| theflyonthewall.com: | Sunrise Senior Living enters into restructuring agreement | | Sunrise Senior Living announced that it entered into a restructuring agreement, in the form of a binding term sheet, with Capmark Finance Inc. and Natixis, London Branch, two lenders of Sunrise and certain of its affiliates, to settle and compromise their claims against Sunrise and certain of its affiliates, including under operating deficit and principal repayment guarantees provided by Sunrise and certain of its affiliates in support of Sunrise's German subsidiaries. Capmark Finance and Natixis contended that these claims had an aggregate value of approximately $121.6M. The binding term sheet contemplates that, on or before the first anniversary of the execution of definitive documentation for the restructuring, certain other identified lenders of Sunrise may elect to participate in the restructuring with respect to their asserted claims. The claims being settled by Capmark Finance and Natixis represent approximately 77.5% of the aggregate amount of claims asserted by the lenders that may elect to participate in the restructuring transaction. :theflyonthewall.com |
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