Omnicare to repay 364-day loan with notes, convertibles, stock proceeds

By Sara Rosenberg

New York, Dec. 5 - Omnicare Inc. plans to repay its $1.9 billion 364-day loan facility using a portion of the proceeds from a $750 million senior subordinated notes offering, a $750 million convertible senior debentures offering and the sale of 12.825 million shares, according to a company news release.

Remaining proceeds from the various transactions will be used to repurchase any and all of the company's outstanding $375 million of 8 1/8% senior subordinated notes due 2011.

Omnicare is a Covington, Ky.-based provider of pharmaceutical care for the elderly.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.