NAPLES, Fla.—Hospital operator Health Management Associates Inc. said Thursday it plans to offer up to $225 million in convertible senior subordinated notes due 2028, through a private placement to institutional buyers.
The company also said it intends to give buyers an option to purchase an additional $25 million in notes to cover over-allotments.
Health Management Associates said it will use the net proceeds from the offering to buy back some of its 1.5 percent convertible senior subordinated notes due 2023.
In premarket trading, shares fell 25 cents, or 3.5 percent, to $6.95, from their Wednesday close at $7.20.
© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
