Omega Healthcare seeking $125 million credit facility

By Sara Rosenberg

New York, Feb. 23 - Omega Healthcare Investors Inc. plans on getting a new approximately $125 million senior credit facility.

Proceeds from the facility, combined with proceeds from a proposed $200 million unsecured notes offering, will be used to repay borrowings under the company's existing senior secured credit facility maturing in 2007, to redeem shares of its 9.25% Series A preferred stock and for general corporate purposes, according to a company news release.

Omega Healthcare is a Timonium, Md.-based real estate investment trust that invests in and provides financing to the long-term care industry.

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