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Terra Firma calls on Four Seasons bondholders to take over care homes group
December 4, 2017 / 9:36 AM / in 10 days

Terra Firma calls on Four Seasons bondholders to take over care homes group

LONDON, Dec 4 (Reuters) - Private equity group Terra Firma on Monday called on the bondholders of British care homes operator Four Seasons to take over the group and its 343 homes for a nominal sum, with immediate effect, to provide stability for employees and patients.

The offer from Terra Firma aims to ensure the stability of Four Seasons ahead of Dec. 15, when the company is due to make an interest payment on the bonds, but which the board of the company has warned it may not be able to pay, the private equity investor said in a statement.

Connecticut-based H/2 Capital Partners owns the majority of the bonds in Four Seasons, having bought into the debt at a discounted price since 2015. (Reporting by Dasha Afanasieva; editing by Simon Jessop)

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