Sonida Senior Living enters into $900M credit agreement to finance CNL Healthcare Properties acquisition

SONIDA SENIOR LIVING, INC.

• Sonida Senior Living (SNDA) signed an amended credit agreement with BMO Bank as administrative agent for $262.5M Tranche 1 and $262.5M Tranche 2 term loans and a $375M revolving credit facility.
• The credit facilities will fund the acquisition of 100% of CNL Healthcare Properties (CHP) and for working capital, acquisitions, and capital expenditures.
• Loans bear interest at Term SOFR plus a margin ranging from 1.30% to 2.00% depending on leverage ratio, with maturities from three to five years.
• The facilities are secured by pledged equity interests in property-owning subsidiaries and subject to borrowing base requirements and financial covenants.
• The agreement amends and restates the existing credit agreement dated July 24, 2024, with closing subject to consummation of the CHP acquisition.

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