Omega Healthcare tenders for 6.95% notes

New York, Dec. 16 - Omega Healthcare Investors, Inc. said it has begun a tender offer and consent solicitation for its $100 million of 6.95% notes due 2007.

The Timonium, Md., long-term care real estate investment trust will pay $1,031.02 per $1,000 principal amount of notes to holders who tender by the consent deadline of 5 p.m. ET on Dec. 30. The total includes a $30.00 per $1,000 consent payment.

Holders who tender after that date but before the expiration of midnight ET on Jan. 17 will receive $1,001.02 per $1,000 principal amount.

Omega will also pay accrued interest up to but excluding the payment date.

Holders who tender by the consent deadline will be deemed to have delivered consents to proposed amendments to the note indenture. These changes will eliminate certain restrictive covenants and certain provisions relating to events of default and amend certain other related provisions.

The offer is subject to conditions including the receipt of sufficient consents to amend the indenture and the completion of an offering of new notes.

Deutsche Bank Securities Inc. is dealer manager (call collect 212 250-4270 or 800 553-2826). MacKenzie Partners, Inc. is the information agent (call collect 212 929-5500 or 800 322-2885).

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