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Omega Healthcare Investors prices $500M debt offering

Omega Healthcare Investors Inc. priced a $500 million public offering of 3.625% senior unsecured notes due Oct. 1, 2029.

The notes will have an issue price of 98.542% and an annual fixed-rate coupon of 3.625%. Interest on the notes will be payable semiannually every April 1 and Oct. 1, starting April 1, 2020.

The healthcare real estate investment trust aims to use the net proceeds to repay outstanding borrowings under its credit facilities, with any remainder to be used for general corporate purposes.

Wells Fargo Securities, BofA Merrill Lynch, Credit Agricole CIB, J.P. Morgan and Morgan Stanley are the joint book-running managers for the offering, which is expected to close Sept. 20.