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UPDATE 1-Southern Cross sees debt talks finalised by end Oct

Thu Oct 9, 2008 2:25am EDT

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* Southern Cross sees FY adj EBITDA in line with outlook * Debt finance scheduled to be resolved by end Oct

LONDON, Oct 9 (Reuters) - Southern Cross (SCHE.L), the UK's biggest care home operator for the elderly, said on Thursday it sees its full-year adjusted EBITDA in line with its previous guidance.

In its pre-close trading update, the company also said it was scheduled to resolve its debt finance with its banking syndicate by the end of October.

In June this year Southern Cross announced the departure of finance chief Jason Lock after issuing a profit warning and said it needed to extend a credit facility with its banks as it was having trouble selling a number of properties.

On July 25, the company announced it had gained an extension to its loan facilities until the end of October.

(Reporting by Ben Deighton, Editing by Mike Nesbit)



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