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Omega to repay bank debt with stock proceeds
By Sara Rosenberg
New York, May 1 - Omega Healthcare Investors Inc. plans to repay debt outstanding under its senior credit facility using all of the proceeds from the sale of 5.9 million shares of common stock, according to a news release.
The company expects to receive net proceeds from the offering of about $98.7 million.
The sale is expected to close on May 6.
Omega is a Timonium, Md.-based real estate investment trust investing in and providing financing to the long-term care industry.
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