Oxford Finance Provides $21.5 Million Debt Financing Facility to Pali Corporation
ALEXANDRIA, Va., Nov. 27, 2012 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced that it closed a $20 million senior secured term loan and a $1.5 million revolving line of credit with Pali Corporation. Proceeds of the loan are being used to refinance the company’s existing debt and for working capital to support its two skilled nursing facilities in Hawaii.
“Oxford is very pleased to provide capital to support the ongoing operations of Pali’s facilities,” said Christopher A. Herr, managing director for Oxford Finance. “Pali has a committed and experienced management team that is highly regarded in the healthcare community, and for more than 25 years, its two Honolulu facilities have been providing excellent care to its patients.”
“I am very grateful for Oxford and the help they can provide us,” said Dr. Edison H. Miyawaki, president of Pali Corporation. “It has been a pleasure working with them and I’m sure we will continue to have an outstanding relationship in the coming years.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated nearly $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About Pali Corporation
Pali Corporation consists of two nursing facilities in Honolulu, HI. They have been operating for more than 25 years, providing short-term rehab and long-term care for the elderly. Pali Corporation works closely with the residents’ personal physicians, consultants and family members to assure the highest quality of care. The staff provides services directed toward assisting the resident to achieve and maintain his/her optimum level of self-care and independence.
SOURCE Oxford Finance LLC