MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE: NHI) announced today it has
entered into amended $800 million senior unsecured credit facilities
that include a $550 million revolving credit facility and existing $250
million term loans. The amended credit facilities provide for: (1) a
$550 million unsecured, revolving credit facility that matures in June
2020 (inclusive of an embedded 1-year extension option) with interest at
150 basis points over LIBOR; and (2) three existing term loans which
remain in place totaling $250 million, maturing in June 2020 and bearing
interest at 175 basis points over LIBOR, with a notional amount of $130
million being fixed at 3.91% until 2020 with an interest rate swap
agreement, a notional amount of $40 million being fixed at 3.29% until
2019, and a notional amount of $80 million being fixed at 3.86% until
2020.
The facilities can be expanded, subject to certain conditions, up to an
additional $250 million. At closing, the new facilities replaced smaller
credit facilities last amended in March 2014 that provided for $700
million of total commitments.
Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Merrill Lynch,
Pierce, Fenner & Smith Incorporated, BMO Capital Markets, KeyBank
National Association and Capital One, National Association were joint
lead arrangers for the facilities and arranged a syndicate that included
13 banks. Other banks in the credit facilities are Regions Bank, Goldman
Sachs, Pinnacle National Bank, Royal Bank of Canada, United Community
Bank, UMB Bank and Stifel Bank & Trust.
About NHI
Incorporated in 1991, National Health Investors, Inc. (NYSE: NHI) is a
real estate investment trust specializing in sale-leaseback,
joint-venture, mortgage and mezzanine financing of need-driven and
discretionary senior housing and medical investments. NHI’s portfolio
consists of independent, assisted and memory care communities,
entrance-fee retirement communities, skilled nursing facilities, medical
office buildings and specialty hospitals. For more information, visit www.nhireit.com.
Safe Harbor Statement
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150630006583/en/
National Health Investors, Inc.
Roger Hopkins, 615-890-9100
Chief
Accounting Officer
Source: National Health Investors, Inc.