Sunrise buys back $3.5 million convertibles

New York, Feb. 26 - Sunrise Senior Living Inc. said it bought back $3.5 million principal amount of its 5¼% convertible subordinated notes during the fourth quarter of 2003.

The McLean, Va., senior living services provider has now bought back $5 million of the convertibles under its repurchase program.

Along with the 4.7 million shares acquired at an average price of $27.05, Sunrise has now used $133 million of the program's total $150 million capacity through May 2004.

Sunrise added that its board of directors will consider expanding the repurchases at its next scheduled meeting.

As of Dec. 31, Sunrise had $120 million of the convertibles outstanding.

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