Omega Healthcare closes $400M unsecured term loan, swaps to fix rate at 5.565%

OMEGA HEALTHCARE INVESTORS INC

Term loan of $400M matures August 8, 2025, with two 12-month extension options.
Fixed-for-floating swaps fix SOFR at 4.015%; all-in fixed rate 5.565% through August 6, 2027.
Proceeds for healthcare property acquisitions, refinancing, capex, and general corporate purposes.
Interest rate margins range from 0.85% to 1.85% for SOFR advances, based on debt ratings.
Credit agreement includes customary covenants: max leverage, minimum fixed charge coverage, etc.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OMEGA HEALTHCARE INVESTORS INC entered into Credit Agreement with a syndicate of financial institutions, as lenders, and Bank of America, N.A., as administrative agent valued at $400 million (effective 2023-08-08).

Action: entry
Agreement: credit facility
Counterparty: a syndicate of financial institutions, as lenders, and Bank of America, N.A., as administrative agent
Value: $400 million
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, Omega Healthcare Investors, Inc. (" Omega " or the " Company ") obtained a new $400 million senior unsecured term loan (the " Term Loan ").

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Source: SEC EDGAR

accession 0000888491-23-000027

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