National Health Investors places $75 million; New Mountain Finance raises $50 million more

By Devika Patel

Knoxville, Tenn., Oct. 3 – It was a busy Monday for private placement news, with National Health Investors, Inc. announcing a $75 million sale of 3.93% eight-year notes to a private placement lender.

Also, Assura plc, a London-based primary care property developer, said it has signed an agreement with Pricoa Capital Group and MetLife for a £100 million private placement of 2.65% notes due 2026, and Woodward, Inc. said it completed a €160 million note purchase agreement.

In addition, New Mountain Finance Corp. issued another $50 million of 5.313% five-year senior notes to Sun Life & Health Insurance Co. and Sun Life Assurance Co. of Canada on Friday in a private placement that priced on May 4 and raised $50 million on May 6. Incapital LLC was the agent.

Proceeds from the National Health sale were used to pay down borrowings on the Murfreesboro, Tenn.-based health-care real estate investment trust’s revolving credit facility.

The €160 million of Woodward senior notes include €40 million of 1.12% series M notes due Sept. 23, 2026, €77 million of 1.31% series N notes due Sept. 23, 2028 and €43 million of 1.57% series O notes due Sept. 23, 2031. Woodward, a Fort Collins, Colo.-based designer, manufacturer and service provider of control products for the aerospace and energy markets, intends to use the proceeds to repay debt under its revolver.

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