April 13, 2010 (FinancialWire) — Skilled Healthcare Group, Inc. (NYSE: SKH) said that it has entered into an up to $360 million term loan and a $100 million revolving credit facility that replace the senior secured term loan and revolving credit facility that were set to mature in June 2012.

The new revolving credit facility was undrawn at closing, according to the company.

Skilled Healthcare said the new term loan and revolving credit facility will have an interest rate of LIBOR plus 3.75% subject to a LIBOR floor of 1.50%. The commitment fee for the unused portion of the revolving credit facility is 0.50%. The new revolving credit facility matures in April 2015 and the new term loan matures in April 2016.

California-based Skilled Healthcare is a holding company with subsidiary healthcare services companies, which in the aggregate posted consolidated annual revenues of more than $750 million as of December 31, 2009.

Skilled Healthcare and its wholly-owned companies operate long-term care facilities and provide a range of post-acute care services, with a strategic emphasis on sub-acute specialty health care.

The company operates facilities in California, Iowa, Kansas, Missouri, Nevada, New Mexico and Texas, including 78 skilled nursing facilities that offer sub-acute care and rehabilitative and specialty health skilled nursing care, and 22 assisted living facilities that provide room and board and social services.

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