MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE: NHI) announced today it has
entered into amended $370 million senior unsecured credit facilities
that includes a $250 million revolving credit facility and $120 million
of 7-year term loans. The revolving credit facility matures in five
years (inclusive of an embedded 1-year extension option), and the term
loans mature in 7 years. At closing, the new facilities replaced smaller
credit facilities that originated on May 1, 2012 and provided for $320
million of total committed facilities.
Justin Hutchens, NHI’s CEO and President, noted, “We appreciate the
considerable commitments offered by the banks participating in this
credit facility, which result in low borrowing costs, extended loan
maturities and additional borrowing capacity that offers substantial
support to NHI’s growth.”
Wells Fargo Securities, LLC, BMO Capital Markets and KeyBank National
Association were joint lead arrangers for the facilities and arranged a
syndicate that included nine banks. BMO Capital Markets and Wells Fargo
Securities, LLC were joint lead arrangers for the $120 million 7-year
term loan facility. Other banks in the credit facility are Bank of
America, Regions Bank, Pinnacle National Bank, United Community Bank,
Stifel Bank & Trust and UMB Bank. The amended credit facility provides
for:
(1) Unsecured, revolving borrowings of up to $250 million with interest
at 140 basis points over LIBOR and a maturity of 5 years (inclusive of
an embedded 1-year extension option); and
(2) Unsecured, 7-year term loans of $120 million with interest at 150
basis points over LIBOR, of which interest of 3.04% on a notional amount
of $40 million is fixed for a period of 6 years and interest of 3.61% on
a notional amount of $80 million is fixed for a period of 7 years with
interest rate swap agreements.
About National Health Investors
National Health Investors, Inc. (NYSE: NHI) is a healthcare real estate
investment trust specializing in financing healthcare real estate by
purchase and leaseback transactions, RIDEA transactions and by mortgage
loans. NHI’s investments include assisted living, senior living
campuses, independent living, skilled nursing facilities, medical office
buildings, and hospitals. Find additional information about NHI at www.nhireit.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.nhireit.com.
National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting
Officer, 615-890-9100
Source: National Health Investors, Inc.