MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today that it has
closed on a $50 million term loan and a new $50 million revolving credit
facility with Regions Bank that replaces a $100 million credit facility
maturing in February 2011.
The $50 million term loan bears interest at a fixed rate of 3.98% for
five years, and the new $50 million revolving credit facility bears
interest at a rate of 250 basis points over LIBOR, matures in three
years and has an accordion feature to allow for an additional $100
million in borrowings. Pinnacle Financial Partners is a participant bank
in the new financing.
Justin Hutchens, NHI President and Chief Operating Officer, noted, “Our
intent is to raise capital in concert with the timing of our
investments. These new financings help provide the flexibility to
achieve this goal.”
National Health Investors, Inc. is a healthcare real estate investment
trust that specializes in the financing of healthcare real estate by
purchase and leaseback transactions and by mortgage loans. NHI’s
investments involve skilled nursing facilities, assisted living
facilities, independent living facilities, medical office buildings, an
acute psychiatric hospital, an acute care hospital and a transitional
rehabilitation center. The common stock of the company trades on the New
York Stock Exchange with the symbol NHI. Additional information about
NHI, including its most recent press releases, may be obtained on NHI's
web site at www.nhinvestors.com.
Statements in this press release that are not historical facts are
forward-looking statements. NHI cautions investors that any
forward-looking statements may involve risks and uncertainties and are
not guarantees of future performance. All forward-looking statements
represent NHI's judgment as of the date of this release.Investors
are urged to carefully review and consider the various disclosures made
by NHI in its periodic reports filed with the Securities and Exchange
Commission, including the risk factors and other information disclosed
in NHI’s Annual Report on Form 10-K for the most recently ended fiscal
year. Copies of these filings are available at no cost on the SEC's web
site at http://www.sec.gov
or on NHI’s web site at http://www.nhinvestors.com
Source: National Health Investors, Inc.
Contact:
National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting
Officer, 615-890-9100