Omega Healthcare talks $200 million 12-year notes with 7% area yield

By Paul A. Harris

St. Louis, Sept. 28 - Omega Healthcare Investors, Inc. talked its $200 million offering of 12-year senior notes (expected ratings Ba2/BB+) with a 7% area yield on Tuesday, according to an informed source.

Pricing is set for Wednesday morning.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Jefferies & Co. and UBS Investment Bank are the joint bookrunners for the Rule 144A with registration rights offering.

Credit Agricole, RBS Securities Inc. and Stifel Nicholas are the co-managers.

The notes come with five years of call protection and have a 101% poison put.

Proceeds will be used to repay revolver debt and for general corporate purposes.

The prospective issuer is a Hunt Valley, Md.-based self-administered real estate investment trust investing in income-producing health care facilities, principally long-term care facilities, located in the United States.

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