Extendicare plans to redeem all 6% convertibles due 2019 on April 30

By Wendy Van Sickle

Columbus, Ohio, March 26 – Extendicare Inc. plans to redeem its outstanding C$126.5 million of series 2012 6% convertible subordinated debentures due Sept. 30, 2019, according to a press release.

The debentures will be redeemed at par plus accrued interest to the redemption date of April 30 for a total of C$1,004.93 per C$1,000 principal amount.

The company will fund the redemption with proceeds from its C$110 million offering of 5% convertible subordinated debentures due 2025.

Markham, Ont.-based Extendicare is a provider of long-term care and related services.

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