XML 35 R46.htm IDEA: XBRL DOCUMENT

BORROWING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2019

BORROWING ARRANGEMENTS [Abstract]

Schedule of Borrowings


				Annual
				Interest Rate
				as of
				December 31,			December 31,
		Maturity		2019			2019			2018
							(in thousands)
Secured borrowings:
HUD mortgages ⁽¹⁾ ⁽⁴⁾		2046-2052		3.01	%		$	387,405		$	—
Term loan ⁽²⁾ ⁽⁴⁾		2021		5.00	%			2,275			—
								389,680			—
Unsecured borrowings:
Revolving line of credit		2021		2.99	%			125,000			313,000

U.S. term loan		2022		3.25	%			350,000			425,000
Sterling term loan ⁽³⁾		2022		2.16	%			132,480			127,990
Omega OP term loan⁽⁴⁾		2022		3.29	%			75,000			100,000
2015 term loan		2022		3.80	%			250,000			250,000
Deferred financing costs – net⁽⁵⁾								(2,742)			(4,264)
Total term loans – net								804,738			898,726

2023 notes		2023		4.375	%			700,000			700,000
2024 notes		2024		4.950	%			400,000			400,000
2025 notes		2025		4.500	%			400,000			400,000
2026 notes		2026		5.250	%			600,000			600,000
2027 notes		2027		4.500	%			700,000			700,000
2028 notes		2028		4.750	%			550,000			550,000
2029 notes		2029		3.625	%			500,000			—
Subordinated debt		2021		9.000	%			13,541			20,000
Discount – net								(23,041)			(18,523)
Deferred financing costs – net								(23,778)			(22,581)
Total senior notes and other unsecured borrowings – net								3,816,722			3,328,896

Total unsecured borrowings – net								4,746,460			4,540,622

Total secured and unsecured borrowings – net⁽⁶⁾							$	5,136,140		$	4,540,622

(1)	Reflects the weighted average annual contractual interest rate on the mortgages at December 31, 2019. Secured by real estate assets with a net carrying value of $617.2 million as of December 31, 2019.

(2)	This borrowing is the debt of a consolidated joint venture.

(3)	This borrowing is denominated in British Pounds Sterling.

(4)	Omega OP or wholly owned subsidiaries of Omega OP are the obligor on these borrowings.

(5)	The amount includes $0.2 million of net deferred financing costs related to the Omega OP term loan as of December 31, 2019.

(6)	All borrowings are direct borrowings of Omega unless otherwise noted.

Schedule of principal payments, excluding the premium/discount and the aggregate due thereafter


		(in thousands)
2020		$	7,465
2021			148,508
2022			815,407
2023			708,168
2024			408,418
Thereafter			3,097,735
Total		$	5,185,701

Schedule of refinancing related costs


		Year Ended December 31,
		2019			2018			2017
		(in thousands)
Write-off of deferred financing costs and unamortized premiums due to refinancing ⁽¹⁾		$	—		$	—		$	10,195
Prepayment and other costs associated with refinancing ⁽²⁾			—			—			11,770
Total debt extinguishment costs		$	—		$	—		$	21,965

(1)	In 2017, we recorded (a) $4.7 million of write-offs of unamortized deferred costs associated with the early redemption of our 5.875% Notes and (b) $5.5 million of write-offs of unamortized deferred financing costs associated with the termination of the 2014 Omega Credit Agreement.

(2)	In 2017, we paid $11.8 million of prepayment penalties associated with the early redemption of our 5.875% Notes.