Omega Healthcare gets $100 million term loan led by GE Capital

By Sara Rosenberg

New York, Dec. 22 - Omega Healthcare Investors Inc. closed on a new $100 million five-year term loan, according to a news release.

GE Capital is the administrative agent on the deal that was completed on Dec. 18.

Pricing on the term loan is Libor plus 550 basis points with a 1% Libor floor.

Proceeds were used to help fund the acquisition of 40 long-term care facilities from CapitalSource Inc. and an option to purchase other CapitalSource subsidiaries owning 63 additional facilities for an aggregate purchase price of roughly $294.1 million.

Omega is a Hunt Valley, Md.-based real estate investment trust investing in and providing financing to the long-term care industry.

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