Five Star Quality buys back $12.8 million of its convertible notes

By Devika Patel

Knoxville, Tenn., Aug. 4 - Five Star Quality Care, Inc. said it repurchased an additional $12.8 million of its convertible senior notes in April and May.

The company paid $6.3 million plus accrued interest, recording a $6.1 million gain.

The company said it financed the repurchase with cash generated by operations and borrowings.

In January, the company repurchased and retired $46.5 million of its $126.5 million of convertibles. It bought back an additional $8.5 million of the notes in April.

Five Star is a senior living and health care services company based in Newton, Mass.

© 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.