Five Star Quality Care, Inc. Announces Redemption of 3.75% Convertible
Senior Notes Due 2026
NEWTON, Mass. -- June 5, 2013
Five Star Quality Care, Inc. (NYSE: FVE) today announced that it will redeem
all of its outstanding 3.75% convertible senior notes due 2026 at a redemption
price equal to the principal amount thereof, plus accrued and unpaid interest
to, but excluding, the redemption date. There currently are $24,872,000
principal amount of Notes outstanding. This redemption is expected to occur on
or about July 8, 2013. FVE expects to fund this redemption with cash on hand
and borrowings under its revolving credit facility.
Five Star Quality Care, Inc. is a senior living and healthcare services
company which owns, leases and manages senior living communities, including
primarily private pay independent and assisted living communities located
throughout the United States. Five Star also operates two rehabilitation
hospitals. Five Star is headquartered in Newton, Massachusetts.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES
LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON FVE’S PRESENT
EXPECTATIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS OF THESE STATEMENTS
MAY NOT OCCUR. FOR EXAMPLE, THIS PRESS RELEASE STATES THAT FVE WILL REDEEM ALL
OF ITS OUTSTANDING 3.75% CONVERTIBLE SENIOR NOTES AND THAT THIS REDEMPTION IS
EXPECTED TO OCCUR ON OR ABOUT JULY 8, 2013. HOWEVER, THE EXPECTED REDEMPTION
OF ALL OF THE OUTSTANDING 3.75% CONVERTIBLE SENIOR NOTES MAY NOT BE COMPLETED
OR IT COULD BE DELAYED DUE TO THE OCCURRENCE OF UNFORESEEN OR OTHER
CIRCUMSTANCES. FOR THESE REASONS, AMONG OTHERS, INVESTORS SHOULD NOT PLACE
UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
Five Star Quality Care, Inc.
Timothy A. Bonang, 617-796-8245
Vice President, Investor Relations
Elisabeth H. Olmsted, 617-796-8245
Manager, Investor Relations
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