By Aleesia Forni
Virginia Beach, Sept. 16 – Omega Healthcare Investors Inc. priced $600 million of 5.25% senior notes (Baa3/BBB-/BBB-) due Jan. 15, 2026 on Wednesday at Treasuries plus 300 basis points, a market source said.
Pricing was at 99.717 to yield 5.287%.
The issue sold in line with guidance.
BofA Merrill Lynch and J.P. Morgan Securities LLC were the bookrunners.
Proceeds will be used to redeem all of the company’s outstanding $575 million principal amount of 6.75% senior notes due 2022 and for general corporate purposes.
Omega is a Hunt Valley, Md.-based real estate investment trust investing in and providing financing to the long-term care industry.
| Issuer: | Omega Healthcare Investors Inc.
|
| Amount: | $600 million
|
| Description: | Senior notes
|
| Maturity: | Jan. 15, 2026
|
| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC
|
| Coupon: | 5.25%
|
| Price: | 99.717
|
| Yield: | 5.287%
|
| Spread: | Treasuries plus 300 bps
|
| Trade date: | Sept. 16
|
| Settlement date: | Sept. 23
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | Treasuries plus 300 bps area
|
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