← National Healthcare Properties, Inc.

AMENDED AND RESTATED CREDIT AGREEMENT

When the limit steps, and which way the company's ratio has been moving.

2.25x1.95x1.65x

Signed Aug 3, 2026

Committed
n/a
Matures
Aug 2029
TrancheSizeMaturesMargin
Initial Term Loansn/aAug 202970–180 bps
Delayed Draw Term Loansn/aAug 202970–180 bps
Revolving Credit Facilityn/aAug 203065–155 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level 1Less than or equal to 0.30 to 1.00105 bpsn/a
Level 2> 0.30 to 1.00 and ≤ 0.35 to 1.00110 bpsn/a
Level 3> 0.35 to 1.00 and ≤ 0.40 to 1.00115 bpsn/a
Level 4> 0.40 to 1.00 and ≤ 0.45 to 1.00120 bpsn/a
Level 5> 0.45 to 1.00 and ≤ 0.50 to 1.00125 bpsn/a
Level 6> 0.50 to 1.00 and ≤ 0.55 to 1.00130 bpsn/a
Level 7> 0.55 to 1.00155 bpsn/a
Level Facility Fee Pre-IG 1Facility Fee Level 1n/an/a
Level Facility Fee Pre-IG 2Facility Fee Level 2n/an/a
Level Facility Fee Pre-IG 3Facility Fee Level 3n/an/a
Level Facility Fee Pre-IG 4Facility Fee Level 4n/an/a
Level Facility Fee Pre-IG 5Facility Fee Level 5n/an/a
Level Facility Fee Pre-IG 6Facility Fee Level 6n/an/a
Level Facility Fee Pre-IG 7Facility Fee Level 7n/an/a

Priced over Term SOFR, floor 0 bps (Term Loan A, Delayed draw term loan).

LevelConditionMarginUnused fee
Level 1Less than or equal to 0.30 to 1.00110 bpsn/a
Level 2> 0.30 to 1.00 and ≤ 0.35 to 1.00115 bpsn/a
Level 3> 0.35 to 1.00 and ≤ 0.40 to 1.00125 bpsn/a
Level 4> 0.40 to 1.00 and ≤ 0.45 to 1.00130 bpsn/a
Level 5> 0.45 to 1.00 and ≤ 0.50 to 1.00140 bpsn/a
Level 6> 0.50 to 1.00 and ≤ 0.55 to 1.00150 bpsn/a
Level 7> 0.55 to 1.00180 bpsn/a

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level 1≥ A / A2 / A65 bpsn/a
Level 2A- / A3 / A-68 bpsn/a
Level 3BBB+ / Baa1 / BBB+73 bpsn/a
Level 4BBB / Baa2 / BBB80 bpsn/a
Level 5BBB- / Baa3 / BBB-100 bpsn/a
Level 6< BBB- / < Baa3 / < BBB- or non-rated135 bpsn/a
Level Facility Fee Post-IG 1Facility Fee Level 1n/an/a
Level Facility Fee Post-IG 2Facility Fee Level 2n/an/a
Level Facility Fee Post-IG 3Facility Fee Level 3n/an/a
Level Facility Fee Post-IG 4Facility Fee Level 4n/an/a
Level Facility Fee Post-IG 5Facility Fee Level 5n/an/a
Level Facility Fee Post-IG 6Facility Fee Level 6n/an/a

Priced over Term SOFR, floor 0 bps (Term Loan A, Delayed draw term loan).

LevelConditionMarginUnused fee
Level 1≥ A / A2 / A70 bpsn/a
Level 2A- / A3 / A-75 bpsn/a
Level 3BBB+ / Baa1 / BBB+80 bpsn/a
Level 4BBB / Baa2 / BBB90 bpsn/a
Level 5BBB- / Baa3 / BBB-115 bpsn/a
Level 6< BBB- / < Baa3 / < BBB- or non-rated155 bpsn/a

Lenders: WELLS FARGO SECURITIES, LLC, BMO BANK N.A., CITIZENS BANK, N.A., CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, FIFTH THIRD BANK, NATIONAL ASSOCIATION, GOLDMAN SACHS BANK USA, THE HUNTINGTON NATIONAL BANK, KEYBANC CAPITAL MARKETS INC., MORGAN STANLEY SENIOR FUNDING, INC., RBC CAPITAL MARKETS, TRUIST SECURITIES, INC., Wells Fargo Bank, National Association

Tested quarterly2.3%ratio 1.79x, estimated, vs 1.75x limit in force at Jun 30, 20261.75x

Equity cure available.

The Parent shall not permit the Unsecured Interest Coverage Ratio to be less than 1.75 to 1.00 as of the last day of any fiscal quarter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measuredn/a

Equity cure available.

The Parent shall not permit Tangible Net Worth as of the last day of any fiscal quarter to be less than (i) seventy-five percent (75.00%) of Tangible Net Worth of the Parent as of the fiscal quarter most recently ended after the Effective Date plus (ii) seventy-five percent (75.00%) of the Net Proceeds of all Equity Issuances effected at any time after such fiscal quarter end.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured0.60x

Equity cure available.

The Parent shall not permit the Leverage Ratio as of the last day of any fiscal quarter to exceed 0.60 to 1.00; provided, however, that in connection with the consummation of a Material Acquisition, the Borrower may, on no more than two (2) non-consecutive occasions during the term of this Agreement, elect a step-up of the maximum Leverage Ratio to 0.65 to 1.00 for any fiscal quarter in which such Material Acquisition is consummated and for the three (3) consecutive fiscal quarters immediately thereafter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured0.40x

Equity cure available.

The Parent shall not permit the Secured Leverage Ratio as of the last day of any fiscal quarter to exceed 0.40 to 1.00.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured0.60x

Equity cure available.

The Parent shall not permit the ratio of (i) Unsecured Indebtedness of the Parent and its Subsidiaries determined on a consolidated basis to (ii) Unencumbered Asset Value (the “Unsecured Leverage Ratio”) as of the last day of any fiscal quarter to exceed 0.60 to 1.00; provided, however, that in connection with the consummation of a Material Acquisition, the Borrower may, on no more than two (2) non-consecutive occasions during the term of this Agreement, elect a one-time step-up of the maximum Unsecured Leverage Ratio to 0.65 to 1.00 for any fiscal quarter in which such Material Acquisition is consummated and for the three (3) consecutive fiscal quarters immediately thereafter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.50x

Equity cure available.

The Parent shall not permit the Fixed Charge Coverage Ratio as of the last day of any fiscal quarter to be less than 1.50 to 1.00.
Read the filing on sec.gov ↗

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