New and amended senior unsecured credit facilities

Omega Healthcare Investors

Our attorneys recently represented Omega Healthcare Investors Inc. in obtaining (a) a new $1.8 billion senior unsecured revolving and term loan credit facility, comprised of a $1.25 billion senior unsecured multicurrency revolving credit facility, a $425 million senior unsecured term loan facility and a £100 million pounds sterling senior unsecured term loan facility with Bank of America NA, the administrative agent, and (b) an amended and restated $250 million senior unsecured term loan credit facility with The Bank of Tokyo-Mitsubishi UFJ Ltd., the administrative agent.

The firm also represented Omega’s subsidiary, OHI Healthcare Properties Limited Partnership, in a new $100 million senior unsecured term loan credit facility with Bank of America NA, the administrative agent.

Dan Booth, Omega’s Chief Operating Officer, noted the firm's role in obtaining the financing flexibility that will help advance the company’s growing business and marketplace objectives. “Our long-time team at Arnold & Porter Kaye Scholer remains the firm that understands our business imperatives, which, when combined with their legal reasoning and responsiveness, helps us secure competitive terms that make these transactions very beneficial,” he said.

“We are pleased to once again be the law firm of choice for Omega on these types of credit transactions,” said Corporate partner John Fallon, who led the team on this transaction. “We congratulate Omega on this series of new financings and look forward to helping them continue to grow their business in the United States and internationally.”

Omega is a Maryland-based publicly traded REIT that invests in and provides financing to the long-term care industry. As of March 31, 2017, Omega’s portfolio of investments includes approximately 1,000 properties located in 42 US states and the United Kingdom.

Omega intends to use the net proceeds to refinance existing indebtedness, finance acquisitions, funding working capital and capital expenditures or for general corporate purposes.

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