Utilizing its bank relationships, National Health Investors boosted its liquidity with a $100 million term loan provided by a syndicate of eight banks. The one-year loan came with an interest rate of 30-day LIBOR + 1.85%, with a 0.50% floor. NHI also has the right to extend the maturity date by another year.  

Wells Fargo Bank acted as the administrative agent, while KeyBankBank of Montreal and Regions Bank acted as the syndication agents. The documentation agents were Bank of AmericaCapital One and Goldman Sachs Bank, which arranged the eight-bank syndicate including Pinnacle National Bank. Total commitments provided by the syndicate were $205 million.  

The REIT seems to be performing relatively well these days, reporting that it had collected 99.7% of its contractual rent in April, 100% in May, and as of a couple of weeks ago, 99.4% in June. That should make shareholders and its banking relationships happy. Occupancy news has not been as rosy, but no one has been immune to that so far. Collecting rent seems pretty important too.