Oklahoma Retirement Community Suspends Debt Payments: Filing

An Oklahoma retirement community is suspending monthly debt payments to preserve cash after the pandemic reduced its occupancy, according to a regulatory filing on Nov. 12.

• Epworth Villa is suspending its monthly deposits into its bond fund for series 2004B, series 2005A, series 2005B, and series 2012A bonds after the pandemic reduced its occupancy and new move-ins, Kenneth Bullock, chief financial officer of Epworth Villa, wrote in a letter to the bond trustee
  • Central Oklahoma United Methodist Retirement Facility Obligated Group, the entity that sold the bonds through a public agency, has about $76 million of debt outstanding, ...