Omnicare's series A and B preferreds to accrue contingent interest

By Tali Rackner

Norfolk, Va., July 7 – Omnicare, Inc. announced that for the period from June 15 to Sept. 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 June 12, in addition to the continued accrual of regular cash interest, according to a press release.

Contingent cash interest, which Omnicare determined to be about $0.1 per $50 stated liquidation amount of preferreds, will be payable to holders as of record on Sept. 12.

The payment of contingent cash interest is expected to be made on Sept. 15.

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

© 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.