New Issue: Omnicare $250 million 10-year notes yield 6 1/8%

By Paul A. Harris

St. Louis, June 10 - Omicare, Inc. sold $250 million of senior subordinated notes due June 1, 2013 (Ba2/BB+) at par Tuesday to yield 6 1/8%, according to a syndicate source.

Price talk was for a yield of 6 1/8%-6 3/8%.

Lehman Brothers, JP Morgan and UBS Warburg were joint bookrunners for the registered deal. SunTrust Robinson Humphrey, Wachovia Securities and CIBC World Markets were co-mangers.

Proceeds will be used to help repay the company's existing $474 million credit facility.

The Covington, Ky.-based issuer provides pharmacy and related services to institutional health care facilities.

Issuer:	Omnicare, Inc.
Amount:	$250 million
Maturity:	June 1, 2013
Security description:	Senior subordinated notes
Bookrunners:	Lehman Brothers, JP Morgan, UBS Warburg (joint)
Co-managers:	SunTrust Robinson Humphrey, Wachovia Securities, CIBC World Markets
Coupon:	6 1/8%
Price:	Par
Yield:	6 1/8%
Spread:	290 basis points
Call features:	Treasuries plus 50 basis points make-whole call until June 1, 2008, then at 103.063, 102.042, 101.021, declining to par on June 1, 2011 and thereafter
Equity clawback:	Until June 1, 2006 for 35% at 106.125
Settlement date:	June 13, 2003
Ratings:	Moody's: Ba2
	Standard & Poor's: BB+
Cusip:	681904AG3
Price talk:	6 1/8%-6 3/8%

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