Kaye Scholer Advises Omega Healthcare Investors on $250 Million Unsecured Credit Facility

Kaye Scholer recently represented Omega Healthcare Investors Inc. in obtaining a $250 million unsecured credit facility with The Bank of Tokyo-Mitsubishi UFJ Ltd., the administrative agent, joint lead arranger and joint book runner, and Capital One, National Association, the syndication agent, joint lead arranger and joint book runner. The unsecured credit facility, obtained on December 16, 2015 and due in 2022, is comprised of a $250 million unsecured term loan facility and includes an “accordion feature” permitting Omega to expand its borrowing capacity to a total of $400 million.

Dan Booth, Omega’s Chief Operating Officer, noted Kaye Scholer’s role in obtaining the financing flexibility that will help advance the company’s growing business and marketplace objectives. “Our long-time team at Kaye Scholer and their experience securing new sources and competitive terms for such financings was particularly beneficial in this transaction,” he said.

“We congratulate Omega on its unique financing with a new lender. We are pleased to once again serve our longtime client Omega and we look forward to helping them as they continue to grow their business in the United States and internationally,” said Corporate partner John Fallon, who led the Kaye Scholer team on this transaction.

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

Omega is a Maryland-based publicly traded REIT that invests in and provides financing to the long-term care industry. As of late 2015, Omega’s portfolio of investments includes 900 properties located in 42 US states and the United Kingdom. 

In addition to Fallon, the Kaye Scholer team included Corporate partner Chris Peterson and associates John Csuka and Chris Konieczny.