Omega Healthcare new revolver pricing ranges from Libor plus 50 to 200 bps

By Sara Rosenberg

New York, April 5 - Omega Healthcare Inc.'s new $200 million four-year senior secured revolving credit facility can carry an interest rate ranging from Libor plus 50 to 200 basis points, based on leverage, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

There is a 35 bps commitment fee.

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.

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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