Navigation Links
Angiotech Pharmaceuticals, Inc. announces new Senior Secured Term Loan and Credit Facilities
Date:3/2/2009

VANCOUVER, March 2 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) today announced it has obtained a new Senior Secured Term Loan and Revolving Credit Facility. Wells Fargo Foothill, LLC is the sole arranger, administrative agent and lender for both the Term Loan and Revolving Credit Facility.

The financing includes a delayed draw secured term loan facility of up to $10 million, and a secured revolving credit facility with a borrowing base derived from the value of certain of the Company's finished goods inventory and accounts receivable, providing up to an additional $22.5 million in available credit, subject to certain terms and conditions. Any borrowings outstanding under the term loan and revolving credit facility bear interest ranging from LIBOR + 3.25% to LIBOR +3.75%, with a minimum Base LIBOR Rate of 2.25%. The term loan and the revolving credit facility include certain covenants and restrictions with respect to our operations, require us to maintain certain levels of Adjusted EBITDA and interest coverage ratios, among other terms and conditions, and are secured by the assets of the Company and its Canadian and US subsidiaries. The purpose of the financings is to provide additional liquidity and capital resources for working capital and general corporate purposes.

"We believe this financing will provide enhanced liquidity in the near term and provide us more flexibility and time for Angiotech to explore other longer-term options for our overall capital structure and working capital needs," said Dr. William Hunter, President and CEO of Angiotech. "We would like to thank Wells Fargo Foothill for their confidence in our business plan and providing us with capital in a difficult capital markets environment."

    Forward Looking Statements
    --------------------------

Statement
'/>"/>

SOURCE Angiotech Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Angiotech Pharmaceuticals announces time change of conference call and webcast
2. Angiotech announces termination of note purchase agreement with Ares Management and New Leaf Venture Partners
3. Angiotech Announces Webcast and Call-in Numbers for Annual and Special General Meeting of Shareholders
4. Angiotech Announces Extension of the Expiration Date of its Tender Offer for Senior Floating Rate Notes Due 2013 and 7.75% Senior Subordinated Notes Due 2014
5. Angiotech receives CE Mark approval of HemoStream(TM) Chronic Dialysis Catheter
6. Angiotech wins before the UK House of Lords
7. Angiotech to Establish Separate Operating and Royalty Businesses
8. Angiotech To Commence Cash Tender Offer for Senior Floating Rate Notes Due 2013 and 7.75% Senior Subordinated Notes Due 2014
9. Angiotech announces market launch of Quill(TM) SRS MONODERM(TM)
10. Angiotechs corporate partner, Cook Medical, announces positive interim results for its Zilver(R) PTX(TM) clinical study
11. Angiotech announces completion of Bio-Seal(TM) clinical trial enrolment
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/24/2014)... 2014 Sigma-Aldrich Corporation (NASDAQ: ... under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) ... 22, 2014, thereby completing the U.S. HSR Act ... of the Company by Merck KGaA, Darmstadt, Germany.  ... condition to closing the transaction, which remains subject ...
(Date:12/22/2014)... Brussels (PRWEB) December 22, 2014 The ... the global leader of technical training across the life ... Clinical Data Management (SCDM) to provide the organization's ... certification programs —providing access to the more than 350 ... SCDM members with 10% off when registering for a ...
(Date:12/22/2014)... , Dec. 22, 2014  Alternative Energy ... that it has signed a letter of intent ... has developed and patented a nanotechnology-based development platform ... products that enable rapid on-site collection and testing ... and health issues in an immediate, non-invasive and ...
(Date:12/22/2014)... December 22, 2014 The ... publication of original research, reviews and editorials addressing ... clinical practice, today published a provocative article exploring ... development, progression and potential treatment of prostate cancer. ... research and proposes the possibility that there could ...
Breaking Biology Technology:Acquisition of Sigma-Aldrich by Merck KGaA, Darmstadt, Germany, Receives U.S. Antitrust Clearance 2Acquisition of Sigma-Aldrich by Merck KGaA, Darmstadt, Germany, Receives U.S. Antitrust Clearance 3CfPIE Announces Partnership with the Society for Clinical Data Management 2CfPIE Announces Partnership with the Society for Clinical Data Management 3ALNE Announces Intention To Acquire BioTechPharma 2Prostate Cancer Experts Dissect the Role of Follicle-stimulating Hormone in the Development, Progression and Potential Treatment of Prostate Cancer 2Prostate Cancer Experts Dissect the Role of Follicle-stimulating Hormone in the Development, Progression and Potential Treatment of Prostate Cancer 3Prostate Cancer Experts Dissect the Role of Follicle-stimulating Hormone in the Development, Progression and Potential Treatment of Prostate Cancer 4
... 26, 2011 Mylan Inc. (Nasdaq: MYL ) today ... September 30, 2011. Financial Highlights ... 30 compared to $0.43 for the same prior year period; ... September 30 compared to $1.16 for the same prior year period; ...
... Calif., Oct. 25, 2011 Life Technologies Corporation ... Dx Genetic Analyzer has been approved by China,s State Food ... Dx is a capillary-based Sanger Sequencer intended for use in ... of genetic changes that may lead to disease presence or ...
... MENLO PARK, Calif. and IPSWICH, Mass., Oct. 25, 2011 ... of products and services for studying regulatory elements in ... New England Biolabs, Inc. (NEB) to create a new ... of SwitchGear,s LightSwitch™ Luciferase Assay System and NEB,s BioLux® ...
Cached Biology Technology:Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 2Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 3Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 4Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 5Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 6Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 7Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 8Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 9Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 10Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 11Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 12Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 13Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 14Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 15Mylan's Third Quarter 2011 Adjusted Diluted EPS Increases 28% to $0.55 16Life Technologies Launches 3500 Dx Series Genetic Analyzers for In Vitro Diagnostic Use in China 2Life Technologies Launches 3500 Dx Series Genetic Analyzers for In Vitro Diagnostic Use in China 3Life Technologies Launches 3500 Dx Series Genetic Analyzers for In Vitro Diagnostic Use in China 4SwitchGear Genomics and New England Biolabs Develop New Multiplex Reporter Assay System 2
(Date:12/5/2014)... Dec. 4, 2014  Tute Genomics, a leader in ... in Series A1 funding led by UK-based Eurovestech. Peak ... in the investment round. "We are at ... adopts next-generation sequencing and seeks new approaches for the ... Robison , MD MBA, and CEO of Tute Genomics. ...
(Date:11/21/2014)... 18, 2014 According to a ... Systems (Video, RFID, Access Control, Intrusion Detection, Parking Management, ... Government), Component Service Geography - Global Forecasts to 2020", ... projected to be around $25 Billion in 2014 and ... at a CAGR of 8.69%. Browse 116 ...
(Date:11/21/2014)... Calif. , Nov. 20, 2014   Atmel® ... leader in microcontroller (MCU) and touch technology solutions, today ... temperature sensors with the widest V cc ... higher temperature accuracy and faster I 2 C bus ... and serial EEPROM memory making them ideal for consumer, ...
Breaking Biology News(10 mins):Tute Genomics Raises $2.3 Million to Scale Up Cloud-Based Genome Analytics and Accelerate Personalized Medicine 2Tute Genomics Raises $2.3 Million to Scale Up Cloud-Based Genome Analytics and Accelerate Personalized Medicine 3Industrial Security Systems Market Worth $38 Billion by 2020 2Industrial Security Systems Market Worth $38 Billion by 2020 3Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 2Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 3Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 4
... This news release is available in French . ... with today,s technology, it still takes both a male and a female ... raise that child? Many studies have outlined the value of a mother, ... New findings from the Research Institute of the McGill University Health Centre ...
... Dangerous Climate Change: Required Reductions of Carbon Emissions to ... Hansen and colleagues, and announces call for papers on ... assesses climate impacts of global warming using ongoing observations ... and simple representations of the global carbon cycle and ...
... Nov. 27, 2013 The mating roar of a male ... predator. Unfortunately for the seals, scientists have found evidence that ... present their work at the 166th Meeting of the Acoustical ... San Francisco, Calif. Previous research had shown mammal-eating killer ...
Cached Biology News:Dads: How important are they? 2Assessing dangerous climate change and call for climate change response papers 2Silent stalkers of dark ocean waters 2
A Highly Purified, Cost-Effective Taq DNA Polymerase...
Homo sapiens similar to Cytosolic acyl coenzyme A thioester hydrolase Antigen: Peptide...
... SUPERaseIn RNase Inhibitor (patent pending) is a ... noncovalently binds and inhibits the most common ... C, 1 and T1. SUPERaseIn can be ... could be problematic. It is ideal for ...
... (Chemical Inkjet Printer) is a revolutionary ... and Protein Macroarray Analysis, developed in ... The strategy compliments established protocols in ... the proteins isoelectric point and apparent ...
Biology Products: