Omnicare Inc. said Thursday it priced a public offering of $150 million in senior notes due in 2020.
The company dispenses drugs for nursing homes and other long-term care centers. It previously expected to sell $100 million in senior notes. Omnicare said it will use the proceeds to buy back debt due in 2013 and 2015, while any remaining proceeds will be used for general corporate purposes. It expects the sale to close on Tuesday.
Omnicare said JPMorgan, BofA Merrill Lynch, Barclays Capital, Goldman Sachs and SunTrust Robinson Humphrey are the joint book-running managers for the offering.
Shares of Omnicare rose 48 cents to $29.07 on Thursday.