NATIONAL HEALTH INVESTORS INC (NHI): debt financing — NHI enters $200M unsecured term loan, replaces $300M prior facility

NATIONAL HEALTH INVESTORS INC

New $200M term loan fully drawn on June 16, 2023; matures June 16, 2025 with two six-month extension options.
Interest rates: Term SOFR + 0.75%-1.65% margin or Base Rate + 0.00%-0.65%, based on credit rating; floor of 1.0%.
Financial covenants include max total leverage 0.60x, minimum tangible net worth $1.57B, and fixed charge coverage ≥1.50x.
Existing $300M term loan dated September 2018 was terminated and repaid in full; subsidiary guarantees released.
Option to increase term loans to $300M aggregate with lender consent; extension fee 0.075% per six-month term.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NATIONAL HEALTH INVESTORS INC incurred term loan of $200.0 million with Wells Fargo Bank, National Association, as administrative agent at Term SOFR (plus a credit spread adjustment) plus a margin ranging from 0.75% to maturing June 16, 2025.

Instrument: term loan
Principal: $200.0 million
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Rate: Term SOFR (plus a credit spread adjustment) plus a margin ranging from 0.75% to
Maturity: June 16, 2025
Event: incurrence

Exact text from the filing

On June 16, 2023 (the “ Effective Date ”), National Health Investors, Inc. (the “ Company ”) entered into a Term Loan Agreement (the “ Loan Agreement ”) with Wells Fargo Bank, National Association, as administrative agent (the “ Agent ”), and the financial institutions party thereto as lenders and agents, which provides for aggregate revolving loan commitments of $200.0 million (the “ Term Loan ”), which amount was fully advanced on the Effective Date.

View on SEC.gov

3 debt financings filed in the last 30 days. Browse all debt financings →

NATIONAL HEALTH INVESTORS INC filing history →

Source: SEC EDGAR

accession 0000877860-23-000076

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.