By Angela McDaniels
Tacoma, Wash., Sept. 4 – Omega Healthcare Investors, Inc. priced $250 million of 4˝% senior notes due 2025 at 99.131, according to a company news release.
The notes (expected ratings Ba1/BBB-/BBB-) were expected to be non-callable, according to a market source.
The source said BofA Merrill Lynch, Credit Agricole CIB, J.P. Morgan Securities LLC and RBS Securities Inc. are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.
The company plans to use the proceeds to pay down its revolving credit facility and for general corporate purposes.
Omega Healthcare is a Huntsville, Md.-based real estate investment trust that invests in long-term care providers.
| Issuer: | Omega Healthcare Investors, Inc.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Proceeds: | $247,827,500
|
| Bookrunners: | BofA Merrill Lynch, Credit Agricole CIB, J.P. Morgan Securities LLC and RBS Securities Inc.
|
| Maturity: | 2025
|
| Coupon: | 4˝%
|
| Price: | 99.131
|
| Pricing date: | Sept. 4
|
| Settlement date: | Sept. 11
|
| Expected ratings: | Moody’s: Ba1
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
|
|
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