NHI Receives $200 Million Term Loan

by Jeff Shaw

MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE: NHI) has entered into a $200 million term loan.

The new financing matures on June 16, 2025, unless extended by the company pursuant to one or both of two six-month extension options. Proceeds from the loan were used to pay off the company’s term loan with a maturity in September 2023 and had a $200 million balance at the payoff date.

The loan bears interest at a variable rate consistent with the 2023 Term Loan which is SOFR-based with a margin determined by NHI’s credit rating plus a 0.10 percent credit spread adjustment. Based on the company’s current credit rating, the SOFR-based margin is 1.25 percent for an all-in initial rate of 6.45 percent.

A total of nine lenders are party to the financing. Wells Fargo Bank, National Association is acting as administrative agent. Wells Fargo Securities LLC, BofA Securities Inc., JPMorgan Chase Bank N.A., Regions Capital Markets and BMO Capital Markets Corp. acted as joint lead arrangers. Pinnacle Bank, The Huntington National Bank, KeyBank National Association and Chang Hwa Commercial Bank New York Branch are participating lenders.

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