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Health Management receives puts of $317.3 million of 0% convertibles, $12.7 million remain
New York, Feb. 3 - Health Management Associates, Inc. said holders of $317.3 million face value of its exchange zero-coupon convertible senior subordinated notes due 2022 exercised the put option on Jan. 28.
The securities were repurchased at their accreted value of $275.9 million, according to an 8-K filing with the Securities and Exchange Commission.
Following the put, $12.7 million face value of the convertibles remain outstanding.
Funding for the put came from borrowings on Health Management's $600 million credit agreement.
Health Management is a Naples, Fla., operator of non-urban hospitals.
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