CONMED Health Care Group

Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $120,000,000 dual-tranche, long-term debt financing for CONMED Health Care Group (“CONMED”).  The credit facilities will be used to fund the refinancing of CONMED’s existing portfolio of retirement and long-term care residences, as well as the construction of a new 288 bed class-A long-term care facility in Niagara Falls, Ontario – part of the Province’s Enhanced Long-Term Care Home Renewal Strategy.

Stonebridge acted as Financial Advisor and Arranger to CONMED, and will act as Administrative Agent to the Lenders for the term of the financing. The funding was provided by Sun Life Assurance Company of Canada and its related funds and the Stonebridge Infrastructure Debt Fund II L.P.

Established in 1986, CONMED Health Care Group is a highly regarded and experienced owner, operator and developer of quality seniors living facilities, located predominantly in the Niagara region of Ontario. The CONMED portfolio currently contains seven long-term care facilities and one retirement home, totaling 830 beds.

Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in arranging and structuring debt financings for syndication in the Canadian institutional marketplace, with a focus in the energy, infrastructure, and health care sectors. Stonebridge has arranged and syndicated over $3.0 billion of project debt financing.

Stonebridge Infrastructure Debt Fund II L.P. (“SIDF II”) is an open-ended fund with capital commitments provided by a number of Canadian institutional investors including pension funds, insurance companies and the Business Development Bank of Canada.  SIDF II provides its institutional investors with access to investment grade Canadian Private Debt Market assets, with long-term, predictable cash flows and premium returns over comparable government bond yields.

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