BORROWING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2021


		Annual
		Interest Rate
		as of
		December 31,		December 31,		December 31,
	Maturity	2021		2021		2020

				(in thousands)
Secured borrowings
HUD mortgages⁽¹⁾⁽²⁾	2046-2052	3.01	%	$	359,806	$	367,249
Term loan⁽³⁾	2022	3.75	%		2,275		2,275
Total secured borrowings					362,081		369,524

Unsecured borrowings
Revolving borrowings:
2017 Revolving credit facility⁽⁴⁾	N/A	N/A			—		101,158
Revolving credit facility⁽⁴⁾	2025	1.30	%		—		—
Total revolving borrowings					—		101,158

Senior notes and other unsecured borrowings:
2023 notes⁽⁴⁾⁽⁵⁾	2023	4.375	%		350,000		700,000
2024 notes⁽⁴⁾	2024	4.950	%		400,000		400,000
2025 notes⁽⁴⁾	2025	4.500	%		400,000		400,000
2026 notes⁽⁴⁾	2026	5.250	%		600,000		600,000
2027 notes⁽⁴⁾	2027	4.500	%		700,000		700,000
2028 notes⁽⁴⁾	2028	4.750	%		550,000		550,000
2029 notes⁽⁴⁾	2029	3.625	%		500,000		500,000
2031 notes⁽⁴⁾	2031	3.375	%		700,000		700,000
2033 notes⁽⁴⁾⁽⁶⁾	2033	3.250	%		700,000		—
Subordinated debt⁽²⁾	N/A	N/A			—		20,000
Sterling term loan⁽⁴⁾⁽⁷⁾	N/A	N/A			—		136,700
2017 OP term loan⁽⁸⁾	N/A	N/A			—		50,000
OP term loan⁽⁸⁾⁽⁹⁾	2025	3.29	%		50,000		—
Deferred financing costs – net					(26,980)		(26,421)
Discount – net					(31,565)		(31,709)
Total senior notes and other unsecured borrowings – net					4,891,455		4,698,570

Total unsecured borrowings – net					4,891,455		4,799,728

Total secured and unsecured borrowings – net^(10)(11)				$	5,253,536	$	5,169,252

(1)	Reflects the weighted average annual contractual interest rate on the mortgages at December 31, 2021. Secured by real estate assets with a net carrying value of $544.5 million as of December 31, 2021.

(2)	Wholly owned subsidiaries of Omega OP are the obligor on these borrowings.

(3)	Borrowing is the debt of a consolidated joint venture.

(4)	Guaranteed by Omega OP.

(5)

In March 2021, we used a portion of the proceeds from the 2033 Senior Notes offering to fund the tender offer to redeem $350 million of the 4.375% Senior Notes due 2023. In connection with this transaction, we recorded approximately $30.6 million in related fees, premiums, and expenses for the year ended December 31, 2021, which were recorded as Loss on debt extinguishment in our Consolidated Statement of Operations.

(6)

We used the proceeds from this offering to pay down outstanding borrowings on the 2017 Revolving Credit Facility, repay the Sterling term loan, and fund the tender offer to purchase $350 million of the 4.375% Senior Notes due 2023 and the payment of accrued interest and related fees, premiums and expenses.

(7)	Actual borrowing is in GBP and remeasured to USD. The Sterling term loan was settled in March 2021 using proceeds from the 3.250% 2033 Senior Notes offering.

(8)	Omega OP is the obligor on this borrowing.

(9)	The weighted average interest rate of the OP Term Loan has been adjusted to reflect the impact of the interest rate swaps that effectively fix the LIBOR based portion of the interest rate at 1.84%

(10)	All borrowings are direct borrowings of Parent unless otherwise noted.

(11)

Certain of our other secured and unsecured borrowings are subject to customary affirmative and negative covenants, including financial covenants. As of December 31, 2021 and 2020, we were in compliance with all affirmative and negative covenants, including financial covenants, for our secured and unsecured borrowings.

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


	(in thousands)
2022	$	9,945
2023		357,904
2024		408,144
2025		458,393
2026		608,648
Thereafter		3,469,047
Total	$	5,312,081