Topics

Capital One closes $29M secured term loan for Ciena Healthcare

Capital One Bank has announced it closed a five-year $29 million Secured Term Loan for Ciena Healthcare, a leading provider of skilled nursing and rehabilitation care facilities in Michigan and Connecticut. The facility will be used to re-finance three skilled nursing facilities in Michigan that were built since 2005.

"We are thrilled to provide Ciena Healthcare with capital to support its financing needs and we're excited to build a relationship with a leading long-term care provider that focuses on, high-quality facilities, medical care and patient experiences," said Imran Javaid, Managing Director, Commercial and Specialty Finance, Capital One Bank. "We look forward to developing a long-term relationship with Ciena to assist the company with its efforts to expand and to maintain its position as a market leader."

Headquartered in Southfield, Mi., Ciena Healthcare operates 32 skilled nursing communities across the state and four communities in Connecticut. The company provides long-term care and short-term rehabilitative services to thousands of residents and patients on a daily basis.

"Capital One Bank has been an excellent partner, particularly because of the group's deep industry expertise and willingness to act quickly to provide a re-financing solution to meet our immediate needs," said Anis Khan, Chief Financial Officer of Ciena Healthcare. "This new relationship will allow us to maintain high-quality care and amenities to patients at three of our Michigan facilities."

Capital One Bank's Healthcare team partners with clients in the healthcare and long-term care industries by providing real estate loans, enterprise term loans and revolving lines of credit to address all of their capital needs. This team is part of the Bank's Commercial and Specialty Finance Business, which serves clients through a team of more than 200 associates who have expertise in healthcare, security and defense, technology, asset based lending, rediscount finance, municipal finance and equipment leasing and finance. Capital One Bank's Commercial Business leverages a relationship-based banking model that seamlessly delivers an array of products and services including: loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., Capital One Bank (USA), N. A., and ING Bank, fsb, had $216.5 billion in deposits and $294.5 billion in total assets outstanding as of March 31, 2012. Headquartered in McLean, Virginia, Capital One and ING Direct offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.