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Published: Thursday, 7/29/2004

Manor Care repurchase generates big turnout

Manor Care Inc. said yesterday that its offer to purchase up to $100 million of notes resulted in more than that amount of securities being turned in by investors.

The Toledo-based company, the nation's largest nursing-home chain, said it will give premiums to investors who responded before the Tuesday deadline for tendering the notes, carrying interest rates of 7.5 and 8 percent. The company also is in the midst of a stock repurchase offer, which could involve a total of $200 million worth by the end of 2005.

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