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TheStreet Open House

Omega Announces Closing Of New $1.2 Billion Unsecured Credit Facility And $315 Million In New Investments

“We are extremely pleased with the significant additional capacity and favorable terms provided by the new unsecured credit facility,” stated Taylor Pickett, Omega’s President and CEO. Mr. Pickett added, “Our banks have been terrific business partners as we have continued to grow our portfolio. We are particularly appreciative of their recognition of Omega’s credit quality, financial strength, and conservative balance sheet management.”

The 2014 Credit Facilities were made up of a syndication of financial institutions. Merrill Lynch, Pierce, Fenner & Smith Incorporated was Joint Lead Arranger and Sole Book Runner. Bank of America, N.A. was the Administrative Agent. Citizens Bank, National Association, Credit Agricole Corporate and Investment Bank and J.P. Morgan Securities LLC were Joint Lead Arrangers and Co-Syndication Agents. The Bank of Tokyo-Mitsubishi UFJ, Ltd., Capital One, National Association, Morgan Stanley Bank, N.A., Royal Bank of Canada, SunTrust Bank, Branch Banking and Trust Company, Sumitomo Mitsui Banking Corporation, Stifel Bank & Trust, Synovus Bank, Bank of Taiwan, Mega International Commercial Bank Co., Ltd., Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Ltd., First Commercial Bank, Ltd., E. Sun Commercial Bank, Limited and Hua Nan Commercial Bank Ltd. also participated in the 2014 Credit Facilities.

Omega also announced today that during the three months ended June 30, 2014, it closed on $315 million in incremental new investments. The investments include a new $415 million mortgage (which expands and replaces an existing $117 million mortgage) and $17 million in new skilled nursing facility triple net lease investments. All of the second quarter investments are with existing Omega operators.

The Company is a real estate investment trust investing in and providing financing to the long-term care industry. At June 30, 2014, the Company owned or held mortgages on 563 skilled nursing facilities, assisted living facilities and other specialty hospitals with approximately 63,796 licensed beds (61,425 available beds) located in 37 states and operated by 49 third-party healthcare operating companies.

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