Beverly Enterprises Inc. has restructured more than...

Beverly Enterprises Inc. has restructured more than $800 million in debt that was in default, according to a filing with the SEC. The Pasadena-based health-care facilities operator has amended a $400-million revolving credit facility and more than $400 million in other loans to “generally tighten covenants, provide collateral, increase interest rates and certain fees payable to the banks, generally shorten maturities and establish voting arrangements among the banks,” according to the filing. The revised covenants require Beverly to maintain minimum net worth and earnings before interest and taxes, and to comply with certain financial tests.