Boston, MA 03/17/2014 (wallstreetpr) – Kindred Healthcare, Inc. (NYSE:KND) has announced plans to undertake a refinancing of its existing secured indebtedness with the proposed refinancing expected to expand its long term maturity profile. The refinancing will also result in an increase in total availability under the company’s secured facilities while also providing better and improved pricing as well as covenant flexibility.
Kindred Healthcare, Inc. (NYSE:KND) is also carrying out reviews on how to evaluate its senior unsecured indebtedness that includes the incurrence of additional senior secured indebtedness. The refinancing has not yet gone through, awaiting further customary conditions from regulators.
Kindred Healthcare, Inc. (NYSE:KND)’s chief executive officer has pointed out that the refinancing is a step forward in improving the company’s capital structure while also boosting shareholders returns. The refinancing is expected to provide better opportunities of extending debt maturities, improving covenant flexibility and increasing debt capacity as well as lowering borrowing costs
Kindred healthcare insider trading
Kindred Healthcare, Inc. (NYSE:KND)’s COO Benjamin Breier is reported to have sold his 13,400company’s shares in an open market transaction dated March 4. The shares were sold at a market price of $22.41 a share for a total amount of $300,294. The chief now owns 451,635 of the company shares valued at $10.13 million.
The company last released its results on February 20 in which the earnings per share beat consensus estimates of $0.13 coming in at $0.15. The company is expected to post earnings per share of $1.14 for the current fiscal year. Kindred healthcare has announced a quarterly dividend payment scheduled for March 27.
Dividend Payments will only be made to investors on record as of March 6 at $0.12 per share held representing a $0.48 dividend per annualized basis with a yield of 2.14%. Kindred Healthcare, Inc. (NYSE:KND)’s stock currently commands an average rating of a “Hold” in the market with an average price target of $19.73. Analysts at UBS AG currently rate Kindred healthcare as an “Underperform” with analyst at Wells Fargo upgrading the company stock to a “market perform”. Seven research equity firm rate the company as a “Hold’ with four maintaining a “Buy” rating
