secwatch.observer — SEC 8-K summary
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Issuer:     NATIONAL HEALTH INVESTORS INC (NHI)
CIK:        0000877860
Form:       8-K
Filed at:   2023-06-20T23:59:59+00:00
Accession:  0000877860-23-000076
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/877860/000087786023000076/0000877860-23-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/877860/000087786023000076/nhi-20230620.htm
  HTML page:      https://secwatch.observer/filing/0000877860-23-000076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer