Genesis HealthCare buys back $47.3 million 8% notes

New York, May 2 - Genesis HealthCare Corp. said it has bought back $47.3 million of its 8% senior subordinated notes due 2013 since the end of the second fiscal quarter on March 31.

The buybacks are in addition to the $23.5 million repurchased during the first quarter with proceeds from its offering of $180 million of 2.5% senior subordinated convertible debentures due 2025.

The Kennett Square, Pa., long-term care provider also repaid the $119.7 million of borrowings on its term loan B with the convertible proceeds and bought back $20.1 million of common stock.

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