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.
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Issue: | Senior notes
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Amount: | $250 million
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Proceeds: | $247,827,500
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Bookrunners: | BofA Merrill Lynch, Credit Agricole CIB, J.P. Morgan Securities LLC and RBS Securities Inc.
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Maturity: | 2025
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Coupon: | 4˝%
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Price: | 99.131
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Pricing date: | Sept. 4
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Settlement date: | Sept. 11
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Expected ratings: | Moody’s: Ba1
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| Standard & Poor’s: BBB-
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| Fitch: BBB-
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