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Omega Healthcare to pay down revolver borrowings via stock proceeds
By Toni Weeks
San Luis Obispo, Calif., Feb. 3 – Omega Healthcare Investors, Inc. said it will repay outstanding borrowings under its revolving credit facility with the proceeds of a public offering of common stock, according to a press release.
The company will also use the proceeds to redeem its $200 million principal amount of outstanding 7½% senior notes due 2020 and for general corporate purposes.
Omega Healthcare began an underwritten public offering of 8 million shares of its common stock with a 30-day greenshoe option for an additional 1.2 million shares on Tuesday via joint active bookrunning managers BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley and Stifel.
Hunt Valley, Md.-based Omega is a real estate investment trust investing in and providing financing to the long-term care industry.
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