Omega Healthcare closes on $200 million revolver at Libor plus 400 bps

New York, July 2 - Omega Healthcare Investors, Inc. said it completed a new $200 million revolving senior secured credit facility.

The loan is initially priced at Libor plus 400 basis points.

Included in the terms is an accordion feature allowing Omega to increase the facility to $300 million during the first two years.

The revolver, which closed on June 30, matures on June 30, 2012.

Banc of America Securities LLC and Deutsche Bank Trust Co. Americas were joint lead arrangers. Bank of America, NA was the administrative agent and UBS Securities LLC and General Electric Capital Corp. participated in various agent capacities.

Proceeds can be used for acquisitions and general corporate purposes.

As of June 30, Omega had $46 million of outstanding borrowings on the facility.

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

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