National Health Investors Secures $350 Million Through Bond Offering to Strengthen Financial Position

National Health Investors (NHI), a real estate investment trust specializing in healthcare properties, has successfully issued $350 million in senior notes. The debt offering, which carries an interest rate of 5.350% and is set to mature in 2033, was priced at 98.903% of its face value. The transaction is scheduled to be finalized on September 26.

The primary objective for the net proceeds is to pay down borrowings under NHI’s $700 million revolving credit facility. This strategic move is expected to generate substantial financial benefits for the company.

A key outcome of this refinancing effort is a projected annual interest expense reduction of between $12 million and $15 million. Furthermore, the company’s leverage ratio is forecast to improve dramatically. The ratio of net debt... Read more...