---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-252216"
form_type: "8-K"
ticker: "SNDA"
cik: "0001043000"
company_name: "SONIDA SENIOR LIVING, INC."
filed_at: "2023-10-06T23:59:59+00:00"
generated_at: "2026-06-10T03:12:07.521641+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sonida Senior Living enters loan modifications with Fannie Mae, extending maturities and reducing interest by 1.5%

## Summary
- Executed Loan Modification Agreements with Fannie Mae on Oct 2, 2023 for all 37 encumbered communities.
- Maturities on 18 community mortgages extended to December 2026; 19 under Master Credit Facility mature December 2028.
- Monthly interest reduced by 1.5% weighted average for 12 months, projected savings of $3.6M (2023) and $2.3M (2024).
- Requires $5M principal payment by June 1, 2024, with $5M corporate guaranty and $10M supplemental guaranty.
- Excess cash flow escrow: 50% of net cash flow less debt service deposited into lender-controlled capital expenditure reserve.

## SEC filing metadata
- accession: 0001193125-23-252216
- form_type: 8-K
- ticker: SNDA
- cik: 0001043000
- company_name: SONIDA SENIOR LIVING, INC.
- filed_at: 2023-10-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1043000/000119312523252216/0001193125-23-252216-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1043000/000119312523252216/d536689d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-252216
- JSON: https://secwatch.observer/filing/0001193125-23-252216.json
- Plain text: https://secwatch.observer/filing/0001193125-23-252216.txt

## Key facts
- Material Agreements
  SONIDA SENIOR LIVING, INC. amended Loan Modification Agreements with Federal National Mortgage Association (Fannie Mae) (effective 2023-10-02).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Federal National Mortgage Association (Fannie Mae)
  - Effective: 2023-10-02
  source text: Terms were outlined in an agreed upon term sheet accompanying the Fannie Forbearance to be included in a subsequent loan modification (“Loan Modification Agreements”) as the final step to modify the various 37 Fannie Mae community mortgages and MCF prior to the expiration of the Fannie Forbearance.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1043000/000119312523252216/0001193125-23-252216-index.htm

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