Omega Reports Credit Facility Commitments

Omega Healthcare Investors Inc., a real estate investment trust based in Timonium, Md., has announced that it has entered into "firm commitments" with three companies for a new $125 million revolving senior secured credit facility.Under the commitments with Bank of America NA, Deutsche Bank AG, and UBS Loan Finance, the facility is conditioned on the completion of Omega's private offering of $200 million of unsecured notes, among other things, Omega said. The proceeds of that offering are expected to be used to repay borrowings under Omega's existing senior secured credit facility and for working capital and general corporate purposes. If completed, the new facility and note offering would replace Omega's $225 million senior secured credit facility and its $50 million acquisition credit facility. The company can be found online at http://www.omegahealthcare.com.