UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 23, 2003
OMEGA HEALTHCARE INVESTORS, INC.
(Exact name of registrant as specified in charter)
MARYLAND 1-11316 38-3041398
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
9690 DEERECO ROAD, SUITE 100, TIMONIUM, MARYLAND 21093
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (410) 427-1700
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS AND REQUIRED FD DISCLOSURE.
On June 23, 2003, Omega Healthcare Investors, Inc. (the "Company") issued a
press release announcing the completion of a new $225 million Senior Secured
Credit Facility ("Credit Facility") arranged and syndicated by GE Healthcare
Financial Services. The Company has drawn $187 million under the new Credit
Facility to repay borrowings under the Company's two previous credit facilities
and replace letters of credit. In addition, proceeds from the loan are permitted
to be used to pay cumulative unpaid preferred dividends, and for general
corporate purposes. A copy of the press release is filed as Exhibit 99.1
herewith.
The new Credit Facility includes a $125 million term loan ("Term Loan") and
a $100 million revolving line of credit ("Revolver") fully secured by 121
facilities representing approximately half of the Company's invested assets.
Both the Term Loan and Revolver have a four-year maturity with a one-year
extension at the Company's option. The Term Loan amortizes on a 25-year basis
and is priced at LIBOR plus a spread of 3.75%, with a floor of 6.00%. The
Revolver is also priced at LIBOR plus a 3.75% spread, with a 6.00% floor.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
EXHIBIT NO. DESCRIPTION
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99.1 Press Release, dated June 23, 2003, of Omega Healthcare
Investors, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
OMEGA HEALTHCARE INVESTORS, INC.
By: /S/ C. TAYLOR PICKETT
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C. Taylor Pickett
Chief Executive Officer
Dated: June 24, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Press Release, dated June 23, 2003, of Omega Healthcare
Investors, Inc.