New Issue: Omega Healthcare sells $200 million 10-year notes to yield 7%

By Paul A. Harris

St. Louis, March 15 - Omega Healthcare Investors Inc. sold $200 million of 10-year senior notes (B1/BB-) Monday at par to yield 7%, market sources said.

Price talk was 7% to 7¼%.

Deutsche Bank Securities, UBS Investment Bank and Banc of America Securities ran the books on the Rule 144A issue.

Proceeds will be used to redeem the company's 9¼% series A preferred stock and for general corporate purposes.

The issuer is a Timonium, Md.-based real estate investment trust that invests in the long-term care industry.

Issuer:	Omega Healthcare Investors Inc.
Amount:	$200 million
Maturity:	April 1, 2014
Security description:	Senior notes
Bookrunners:	Deutsche Bank Securities, UBS Investment Bank, Banc of America Securities
Coupon:	7%
Price:	Par
Yield:	7%
Call feature:	Callable after April 1, 2009 at 103.50, 102.333, 101.167, par on or after April 1, 2012
Equity clawback:	Until April 1, 2007 for 35% at 107.0
Pricing date:	March 15
Settlement date:	March 22
Ratings:	Moody's: B1
	Standard & Poor's: BB-
Price talk:	7%-7¼%

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