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Gentiva Health Services selling $305M in debt

Wed, 08/04/2010 - 8:45am
The Associated Press

Home health services company Gentiva Health Services Inc. said Wednesday it plans to sell $305 million in debt in a private offering.

The company will sell senior notes due in 2018 and put the proceeds toward its purchase of Odyssey HealthCare.

Gentiva is buying Odyssey for $912 million, or $27 per share, in a deal expected to close during the third quarter.

Shares of Gentiva rose 66 cents, or 3.1 percent, to $22.25 in morning trading.

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