secwatch.observer — SEC 8-K summary
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Issuer:     NATIONAL HEALTHCARE CORP (NHC)
CIK:        0001047335
Form:       8-K
Filed at:   2026-05-27T21:13:25+00:00
Accession:  0001437749-26-018604
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NHC enters $475M credit facility to fund NHI asset purchase; existing facility to be terminated
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- $475M senior unsecured term loan and $50M revolving credit facility with Bank of America as admin agent.
- Proceeds to finance acquisition of assets from NHI; transaction expected to close in Q3 2026.
- Interest at Term SOFR + 1.25%-1.75% (initial 1.50%) or base rate + 0.25%-0.75%; five-year maturity.
- Term loan amortizes quarterly at ~$5.9M; existing $0 credit agreement to be terminated upon funding.
- Financial covenants: max consolidated leverage ratio and min fixed charge coverage ratio, tested quarterly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1047335/000143774926018604/0001437749-26-018604-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1047335/000143774926018604/nhc20260527_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-018604

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