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BRIEFLY

December 02, 1987

Care Enterprises of Laguna Hills will not honor a scheduled interest payment on a series of 9% convertible notes by a Dec. 1 deadline. By deferring the interest payment, the company will be able to continue operating its 105 nursing homes and 12 home health care facilities, while trying to restructure or refinance its bank debt, according to a prepared statement from company officials. The company said it intends to make the interest payment in cash when it completes recently announced exchange offers for the 9% convertible notes and other debt securities, the statement said.

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