Omnicare's series A, B trust PIERS to accrue contingent interest

By Toni Weeks

San Luis Obispo, Calif., Oct. 18 - Omnicare, Inc. announced that for the period from Sept. 15 to Dec. 14, its series A and series B trust preferred income equity redeemable securities will accrue contingent interest at a rate of 0.125% of the average trading price of the preferreds for the five trading days ended Sept. 12, in addition to the continued accrual of regular cash interest.

Contingent cash interest, which Omnicare has determined to be about $0.085 per $50.00 stated liquidation amount of preferreds, will be payable to holders of the preferreds as of Dec. 13, according to a press release.

The payment of contingent cash interest is expected to be made on Dec. 16.

Omnicare is a Cincinnati-based provider of pharmaceutical services to patients and providers.

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