Omega Healthcare (OHI) Announces New $200 Million Credit Facility
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Omega Healthcare Investors, Inc. (NYSE: OHI) announced that it has entered into a new $200 million revolving senior secured credit facility effective June 30, 2009.
The New Credit Facility replaces Omega's previous senior secured credit facility (the "Prior Credit Facility"). The New Credit Facility matures in three years, on June 30, 2012, and includes an "accordion feature" that permits Omega to expand its borrowing capacity to $300 million during its first two years, and is currently priced at LIBOR plus 400 basis points. The New Credit Facility will be used for acquisitions and general corporate purposes.
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