Senior Living Operator Draws From Reserve Account: Filing – Bloomberg Law

Evangelical Retirement Homes of Greater Chicago, which sold $122.6 million of bonds in 2017, made its Feb. 15 interest payment of about $2.9 million partly from balances held in a bond fund and partly from a debt service reserve account, according to a filing Wednesday.

  • “At the direction of the majority of Holders, the Trustee did not make the principal payment of $2,680,000”: filing
  • The issuer previously had reported non-payment of debt service dated Jan. 15, 2021
    • Operator of Senior Living Complex Suspends Debt Payments: Filing
  • The corporation failed to make monthly payments of principal and interest on the 2017 …