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BORROWING ACTIVITIES AND ARRANGEMENTS | 9 Months Ended
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Sep. 30, 2025
BORROWING ACTIVITIES AND ARRANGEMENTS [Abstract] |
BORROWING ACTIVITIES AND ARRANGEMENTS | NOTE 15 – BORROWING ACTIVITIES AND ARRANGEMENTS The following is a summary of our borrowings:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Annual |  | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Interest Rate | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | as of | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | September 30, | ​ | ​ | September 30, | ​ | December 31,
​ |  | Maturity |  | 2025 |  | ​ | 2025 |  | 2024
​ |  | ​ |  | ​ |  | ​ | (in thousands)
Secured borrowings: |  |  |  |  |  | ​ | ​ |  |  | ​ |
2026 Mortgage Loan(1) |  | 2026 |  | 9.35 | % | ​ | $ | 245,929 | ​ | $ | 231,148
Deferred financing costs – net |  |  |  | ​ | ​ | ​ |  | (2,219) | ​ |  | (3,753)
Premium – net(2) |  |  |  |  | ​ | ​ |  | 9,379 | ​ |  | 15,915
Total secured borrowings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 253,089 | ​ | ​ | 243,310
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unsecured borrowings: |  |  |  |  | ​ | ​ |  |  | ​ |  |
Revolving Credit Facility(3) |  | 2029 |  | SOFR + 1.05 | % | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | —
Senior notes and other unsecured borrowings: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2025 notes(3)(4) |  | 2025 |  | 4.50 | % | ​ |  | — | ​ |  | 400,000
2026 notes(3)(5) |  | 2026 |  | 5.25 | % | ​ |  | 600,000 | ​ |  | 600,000
2027 notes(3) |  | 2027 |  | 4.50 | % | ​ |  | 700,000 | ​ |  | 700,000
2028 notes(3) |  | 2028 |  | 4.75 | % | ​ |  | 550,000 | ​ |  | 550,000
2029 notes(3) |  | 2029 |  | 3.63 | % | ​ |  | 500,000 | ​ |  | 500,000
2030 notes(3) | ​ | 2030 | ​ | 5.20 | % | ​ | ​ | 600,000 | ​ | ​ | —
2031 notes(3) | ​ | 2031 | ​ | 3.38 | % | ​ | ​ | 700,000 | ​ | ​ | 700,000
2033 notes(3) | ​ | 2033 | ​ | 3.25 | % | ​ | ​ | 700,000 | ​ | ​ | 700,000
2026 Term Loan(3)(6) | ​ | 2026 |  | 5.25 | % | ​ |  | 428,500 | ​ |  | 428,500
OP Term Loan(7) |  | 2025 |  | N/A | ​ | ​ |  | — | ​ |  | 50,000
2028 Term Loan | ​ | 2028 | ​ | SOFR + 1.20 | % | ​ | ​ | — | ​ | ​ | —
Deferred financing costs – net |  |  |  | ​ | ​ | ​ |  | (17,267) | ​ |  | (14,843)
Discount – net |  |  |  |  | ​ | ​ |  | (19,776) | ​ |  | (18,108)
Total senior notes and other unsecured borrowings – net |  |  |  |  | ​ | ​ |  | 4,741,457 | ​ |  | 4,595,549
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total unsecured borrowings – net |  |  |  |  | ​ | ​ |  | 4,741,457 | ​ |  | 4,595,549
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total secured and unsecured borrowings – net(8)(9) |  |  |  |  | ​ | ​ | $ | 4,994,546 | ​ | $ | 4,838,859
(1) | Wholly owned subsidiaries of Omega OP are the obligors on this loan (the “2026 Mortgage Loan”). The 2026 Mortgage Loan is denominated in GBP.
(2) | Represents the remaining fair value adjustment associated with the 2026 Mortgage Loan, that was assumed as part of an asset acquisition in July 2024, that is being amortized over the remaining contractual term of the loan.
(3) | Guaranteed by Omega OP.
(4) | The Company repaid $400 million of 4.50% senior notes that matured on January 15, 2025 using available cash.
(5) | On October 15, 2025, the Company redeemed, at par value, the $600.0 million of aggregate principal outstanding under its 5.250% Senior Notes with a scheduled maturity of January 15, 2026.
(6) | In July 2025, the maturity date of the $428.5 million term loan (the “2026 Term Loan”) was extended from August 8, 2025 to August 8, 2026 following Omega’s election to utilize one of two 12-month extension options. The weighted average interest rate of the 2026 Term Loan has been adjusted to reflect the impact of the interest rate swaps that effectively fix the SOFR-based portion of the interest rate at 4.047%.
(7) | On April 29, 2025, Omega repaid the $50 million term loan (“OP Term Loan”) using available cash prior to its original maturity date. Omega OP was the obligor on this borrowing.
(8) | All borrowings are direct borrowings of Parent unless otherwise noted.
(9) | Certain of our other secured and unsecured borrowings are subject to customary affirmative and negative covenants, including financial covenants. As of September 30, 2025 and December 31, 2024, we were in compliance with all applicable covenants for our borrowings.
Unsecured Borrowings Revolving Credit Facility On September 30, 2025, Omega entered into a credit agreement (the “2025 Omega Credit Agreement”) consisting of a new $2.0 billion senior unsecured multicurrency revolving credit facility (the “Revolving Credit Facility”) and a $300.0 million delayed draw term loan facility (the “2028 Term Loan”), replacing our previous $1.45 billion senior unsecured 2021 multicurrency revolving credit facility (the “2021 Revolving Credit Facility”). The 2025 Omega Credit Agreement contains an accordion feature permitting us, subject to compliance with customary conditions, to increase the maximum aggregate commitments thereunder to $3.0 billion, by requesting an increase in the aggregate commitments under the Revolving Credit Facility or by adding one or more tranches of term loans. The Revolving Credit Facility may be drawn in Euros, GBP, Canadian Dollars (collectively, “Alternative Currencies”) or USD, with a $600.0 million sublimit for loans in Alternative Currencies and the DDTL Credit Facility may be drawn in USD. The Revolving Credit Facility bears interest at SOFR (or in the case of loans denominated in Alternative Currencies, the applicable reference rate) plus (i) an applicable percentage (with a range of 72.5 to 140 basis points) based on the Company’s debt ratings and (ii) a facility fee based on the same ratings (with a range of 12.5 to 30 basis points). The 2028 Term Loan bears interest at SOFR plus an applicable percentage (with a range of 80 to 160 basis points) based on the Company’s debt ratings. The Revolving Credit Facility matures on September 28, 2029, subject to Omega’s option to extend such maturity for two consecutive six-month periods. The 2028 Term Loan Credit Facility matures on September 29, 2028, subject to Omega’s option to extend such maturity for two consecutive twelve-month periods. We incurred $19.8 million of deferred costs in connection with the 2025 Omega Credit Agreement, of which $2.0 million related to the 2028 Term Loan. 2026 Term Loan Amendment On September 30, 2025, Omega amended the 2026 Term Loan to, among other things, modify the interest rate margins to align with the 2028 Term Loan (a reduction of 35 basis points) and remove the 0.100% pricing step-up in each of the extension periods. $600 Million Senior Note Issuance On June 20, 2025, Omega issued $600 million of Senior Notes due 2030 (the “2030 Senior Notes”) that mature on July 1, 2030 and bear interest at a fixed rate of 5.200% per annum, payable semi-annually on January 1 and July 1 of each year, commencing on January 1, 2026. The 2030 Senior Notes were sold at an issue price of 99.118% of their face value, resulting in a discount of $5.3 million. We incurred $5.6 million of deferred costs in connection with the issuance. The net proceeds from the issuance will be used for general corporate purposes, which may include, among other things, repayment of our existing indebtedness and future acquisition or investment opportunities in healthcare-related real estate properties and to pay certain fees and expenses related to the offering.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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