Capital Senior Living announces initiatives.Dallas-based Capital Senior Living Corporation (CSL (Computerese as a Second Language) Said of people who love to speak high-tech words even though they often use them erroneously. See TLA. 1. CSL - Computer Structure Language. A computer hardware description language, written in BCPL. ) is taking steps to simplify its capital structure, capture 100 percent of the appreciation of its assets, continue its growth, and maximize value to shareholders through enhanced cash flow and higher net asset values. Initiatives include developing future projects on its balance sheet, revising current development efforts that will result in an anticipated 4Q99 charge, assisting the recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. of Triad Senior Living I LP, and engaging Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. to assist with recapitalization alternatives for Triads II though V. The move to on-balance sheet financing was prompted by reduced availability of attractive financing for joint venture development. "It is in the best interest of our shareholders to capture 100 percent of the benefits from lower construction costs and higher appreciation potential," James Stroud, the company's chairman said recently. Lawrence Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , added that "by simplifying our capital structure and increasing revenues and earnings before interest, taxes, depreciation, and amortization Earnings before interest, taxes, depreciation, and amortization (EBITDA) A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses. from owned assets, we're more likely to attract a broader range of investors and maximize shareholder values." CSL will record a $16 to $18 million pre-tax charge in 4Q99 to write off receivables relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc development fees and loans to joint ventures unable to secure attractive financing In December, Lehman Brothers purchased from third parties 80 percent of the limited partnership interest in Triad I for $12 million, enabling Triad I to repay CSL about $9 million in loans. CSL continues to own a 19 percent limited partnership interest in Triad I. Finally, Lehman Brothers will assist in evaluating recapitalization alternatives for Triads II through V, which currently are developing 14 communities. Alternatives include CSL exercising its rights to acquire 100 percent of the interest in the joint ventures, buy some of the communities from the joint ventures, or assisting Triad with recapitalization of the joint ventures through an equity infusion from a third party. |
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