Omega Healthcare enters $200 million term loan with Bank of America

By Jennifer Chiou

New York, Jan. 3 - Omega Healthcare Investors Inc. entered into on Dec. 27 a new $200 million senior unsecured draw term loan facility with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The term loan comes due on Feb. 29, 2016.

Proceeds will go toward general corporate working capital purposes, capital expenditures or other corporate purposes.

Omega said it anticipates drawing on the term loan in 2014 to repay outstanding borrowings under its 2012 senior unsecured revolving credit facility.

Borrowings bear interest at Libor plus 110 basis points to 230 bps. There is an unused fee of 30 bps per year.

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

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