-RBS Asset Finance lends USD35m to Ensign.
BANKING AND CREDIT NEWS-January 7, 2011--RBS Asset Finance lends USD35m to Ensign(C)2011 M2 COMMUNICATIONS http://www.m2.com
7 January 2011 - US nursing, rehabilitative and hospice care services provider The Ensign Group (NASDAQ:ENSG) said on Thursday it had secured a USD35m (EUR27m) seven-year term loan from RBS Asset Finance for certain of its property holding units.
Chicago-based RBS Asset Finance is the US asset financing subsidiary of UK bank RBS (LON:RBS).
The fresh loan comes with a 6.04% interest rate and is consistent with the company's conservative borrowing activities aimed at continued growth through acquisitions.
Ensign said it would tap the loan proceeds along with available cash and cash from future business to build out its quality asset portfolio, improve its competitive position in core markets and reinforce its balance sheet.
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