Omnicare calls 3.25% convertible debentures due 2035

New York, Dec. 15 – Omnicare, Inc. will redeem its remaining $377,000 of 3.25% convertible senior exchange debentures due 2035 on Jan. 15, according to a notice from the issuer.

Holders will receive par plus accrued interest including any contingent interest.

The company said that holders may convert the debentures at any time up until the business day before the redemption date.

The conversion rate is $1,278.73 per $1,000 principal amount.

Omnicare was acquired by CVS Health Corp. in 2015, and the conversion rate was adjusted at that time to become the amount of cash holders would have received had they converted just prior to the merger. CVS paid $98.00 per common share for Omnicare.

CVS is a Woonsocket, R.I., operator of drugstores and medical clinics and provider of pharmacy benefits management and specialty pharmacy services.

© 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.