Sabra Health Care to pay down revolver with common stock proceeds

By Tali Rackner

Norfolk, Va., Sept. 29 – Sabra Health Care REIT, Inc. intends to use the proceeds from a common stock offering to repay borrowings outstanding under the second amended and restated revolving credit facility of Sabra Health Care LP, according to a press release.

On Sept. 24, the operating partnership borrowed $560 million under the facility to fund the acquisition of 21 independent living facilities from affiliates of Holiday Acquisition Holdings Corp. and to provide Sabra with additional working capital.

Sabra Health Care is an Irvine, Calif.-based real estate investment trust that owns and invests in real estate properties for the health-care industry.

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