Brookdale to sell $100M in notes to Capital Z.Chicago-based Brookdale Living Communities Inc., a provider of upscale senior and assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. services with 19 facilities in 11 states totaling 4,168 units, has executed a definitive agreement for a strategic investment in the company of $100 million by Capital Z Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Fund II LP, a private equity fund. Brookdale intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the private offering for repayment of indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. , working capital, and general corporate purposes. New York-based Capital Z will purchase 5.5 percent subordinated notes due 2009 that are convertible into Brookdale's stock at $18.25 per common share. The agreement calls for Capital Z to have two seats on Brookdale's board of directors. |
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