| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Omega Healthcare Investors, Inc. > News item |
Omega Healthcare gets $1 billion revolver, $200 million term loan
By Angela McDaniels
Tacoma, Wash., June 30 – Omega Healthcare Investors, Inc. entered into a new $1.2 billion credit facility on Friday that includes a $1 billion revolving credit facility and a $200 million term loan, according to a company news release.
The credit facilities have a $550 million accordion feature.
The revolver matures June 27, 2018, with a one-year extension option, and the term loan matures June 27, 2019.
Initial pricing for the revolver is an interest rate of Libor plus 130 basis points plus a facility fee of 25 bps. The margin over Libor ranges from 92.5 bps to 170 bps, and the facility fee ranges from 12.5 bps to 30 bps, both based on the company’s ratings.
The initial interest rate for the term loan is Libor plus 150 bps. The spread over Libor ranges from 100 bps to 195 bps.
BofA Merrill Lynch is the bookrunner and a joint lead arranger. Bank of America, NA is the administrative agent. Citizens Bank, NA, Credit Agricole Corporate and Investment Bank and J.P. Morgan Securities LLC are joint lead arrangers and co-syndication agents.
Bank of Tokyo-Mitsubishi UFJ, Ltd., Capital One, NA, Morgan Stanley Bank, NA, Royal Bank of Canada, SunTrust Bank, Branch Banking and Trust Co., Sumitomo Mitsui Banking Corp., Stifel Bank & Trust, Synovus Bank, Bank of Taiwan, Mega International Commercial Bank Co., Ltd., Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Ltd., First Commercial Bank, Ltd., E. Sun Commercial Bank, Ltd. and Hua Nan Commercial Bank Ltd. also participated in the credit facilities.
The revolver will be used for acquisitions and general corporate purposes. The company had $270 million of borrowings outstanding under the revolver as of Monday.
The credit facilities replace Omega’s previous $700 million senior credit facility, which was terminated.
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.