Omega Healthcare to pay down revolver via sale of $400 million notes

By Ashley Montgomery

Kansas City, Kan., March 5 - Omega Healthcare Investors, Inc. will use the proceeds from its planned $400 million offering of senior notes due 2024 to repay outstanding borrowings under its unsecured revolving credit facility, the company said in a news release.

According to the release, the company owes $475 million under the revolver.

Omega Healthcare will also use proceeds to fund a tender offer for its $175 million outstanding of its 7% senior notes due 2016.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.