Cardinal Health Says It Paid $1.2B To Buy Debt

DUBLIN, Ohio (AP) — Cardinal Health Inc. said Friday it completed a purchase of $1.1 billion in long term debt for $1.2 billion.

In late August, the health care products and services company began offering cash in exchange for notes and debentures. The offer was funded with the proceeds of the spinoff of Cardinal Health's clinical and medical products division, which is now a publicly traded company called CareFusion Corp.

Cardinal Health received $1.4 billion in proceeds from the spinoff, and will use the rest of the money to retire floating rate notes due in October.