Omnicare begins tender for $525 million 3.25% convertibles due 2035

By Devika Patel

Knoxville, Tenn., Nov. 17 - Omnicare, Inc. said it launched a cash tender offer for up to $525 million of its $977.5 million of 3.25% convertible senior debentures due 2035.

The offer will expire at 11:59 p.m. ET on Dec. 15.

Holders who tender their debentures by the expiration date will receive $950 for each $1,000 of debentures, plus interest to, but not including, the payment date.

The company will accept the debentures on a pro rata basis among the tendering holders.

The offer is conditional upon the company completing a $500 million public offering of new convertible senior subordinated debt securities, among other requirements.

Barclays Capital Inc. (800 438-3242 or 212 528-7581) is the dealer manager. D.F. King & Co., Inc. (888 887-0082 or 212 269-5550) is the information agent and depositary.

Omnicare is a Covington, Ky.-based pharmaceutical services company.

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