Omega Healthcare $175 million 10-year notes talked at 7 1/8% area, to price Tuesday

By Paul A. Harris

St. Louis, Dec. 19 - Omega Healthcare Investors Inc. talked its $175 million offering of 10-year senior notes at the 7 1/8% area on Monday, according to an informed source.

The offering is expected to price on Tuesday.

Deutsche Bank Securities, Banc of America Securities LLC and UBS Investment Bank are joint bookrunners for the Rule 144A offering.

The notes come with five years of call protection.

Proceeds will be used to fund the tender for $100 million of the company's 6.95% notes due 2007, to repay outstanding debt under its $200 million senior revolving credit facility and for general corporate purposes.

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

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