Omega Healthcare gets $200 million revolver

By Sara Rosenberg

New York, April 4 - Omega Healthcare Inc. closed on a new $200 million four-year senior secured revolving credit facility, according to a company news release.

Bank of America is the administrative agent on the deal. Deutsche Bank Trust Co. Americas, UBS Securities LLC, General Electric Capital Corp., LaSalle Bank and Citicorp North America Inc. are participants as well.

Borrowings will be used for acquisitions and general corporate purposes.

The new facility, which was completed on March 31, replaces the company's previous $200 million senior secured credit facility.

With this new facility, the company lowered its cost of borrowing by 125 basis points when compared to the previous facility.

The new revolver has a $100 million accordion feature that is available for the first two years.

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

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