Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a long-term, fixed rate debt financing for Crown Ridge Health Care Services Inc. (the “Sponsor”) for the refinancing of its existing indebtedness and to design, build (expand / refurbish), finance, operate, and maintain Westgate Lodge, a 160-bed long-term care facility located in Belleville, Ontario (the “Project”). The Sponsor shall own and operate the Project, and the financing is further supported by the portfolio of retirement and long-term care facilities also owned and operated by the Sponsor.
Stonebridge acted as Financial Arranger to the Sponsor, and financing for the Project was provided by Stonebridge Infrastructure Debt Fund II L.P., Beneva Inc., La Capitale Financial Security Insurance Company, and Industrial Alliance Insurance and Financial Services Inc.
Stonebridge is an exempt market dealer and asset manager, which through its various business groups and affiliates provides financial advisory services, asset management, long-term debt financing, and agency services. The company focuses on financial advisory and arranging of project financings in the infrastructure and energy sectors. Stonebridge Infrastructure Debt Fund I and II Limited Partnerships and related separately managed accounts (the “Funds”) act as direct lenders and co-investors to infrastructure and energy projects across Canada.