2023-06-20 16:24:05 ET
- National Health Investors ( NYSE: NHI ) on Tuesday said it had entered into a $200M term loan that will mature on June 16, 2025.
- Proceeds from the term loan were used to pay off the company's earlier term loan with a maturity in September this year and had a $200M balance at the payoff date.
- "The Term 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% credit spread adjustment. Based on the Company's current credit rating of BBB-/Baa3 the SOFR-based margin is 1.25% for an all-in initial rate of 6.45%," NHI said in a statement .
- NHI said that a total of nine lenders were party to the term loan.
- National Health Investors ( NHI ) stock was up 1.5% to $54.20 after hours.
For further details see:
National Health Investors enters into $200M term loan