---
schema_version: "secwatch.filing_event.v1"
accession: "0000877860-23-000076"
form_type: "8-K"
ticker: "NHI"
cik: "0000877860"
company_name: "NATIONAL HEALTH INVESTORS INC"
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T22:07:42.802220+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# NHI enters $200M unsecured term loan, replaces $300M prior facility

## Summary
- 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.

## SEC filing metadata
- accession: 0000877860-23-000076
- form_type: 8-K
- ticker: NHI
- cik: 0000877860
- company_name: NATIONAL HEALTH INVESTORS INC
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/877860/000087786023000076/0000877860-23-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/877860/000087786023000076/nhi-20230620.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000877860-23-000076
- JSON: https://secwatch.observer/filing/0000877860-23-000076.json
- Plain text: https://secwatch.observer/filing/0000877860-23-000076.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/877860/000087786023000076/0000877860-23-000076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.