Omnicare (NYSE: OCR) reported Thursday that it will offer $400 million in senior subordinated notes that will be due in 2020, according to Associated Press.
The company said it will use proceeds to repurchase 6.75 percent senior subordinated notes due in 2013. The company also may buy back its own shares.
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Omnicare said it will refinance its revolving credit facility with a new, $400 million facility.
J.P. Morgan, Barclays Capital, Citi and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering.
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