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:1/15/2014)... The Pittcon Organizing Committee is pleased to ... Tech , an e-Journal and producer of Food ... second year for the co-location of Food Labs Conference to ... that the registration fee to attend the two-day Food Lab ...
(Date:1/15/2014)... Village, Calif. (PRWEB) January 15, 2014 ... treatment and management through the genomic analysis of tumor ... offer Therapy Finder™, a web-based cancer decision support application ... reporting option with Cynvenio’s ClearID™ genomic test, Therapy Finder ...
(Date:1/15/2014)... 2014 This webinar will focus on ... safety assessment in biosimilars. , Regulatory frameworks are evolving ... development, however the complex nature of biopharmaceuticals makes the ... efficacy extremely challenging. Based on the specific aspects of ...
(Date:1/15/2014)... 15, 2014 Two champions of science, ... sponsorship of an annual competition for middle and high ... to, innovative STEM study. The competition presents students with ... of Engineering Aptitude, Mathematics, and Sciences is a ...
Breaking Biology Technology:Pittcon Announces Second Year Partnership With Food Safety Tech 2Pittcon Announces Second Year Partnership With Food Safety Tech 3Cynvenio Offers New Breast Cancer Therapy Finder Application for its ClearID Breast Cancer Genomic Test 2Cynvenio Offers New Breast Cancer Therapy Finder Application for its ClearID Breast Cancer Genomic Test 3Xtalks Life Sciences Webinar Examines Safety Assessment of Biosimilars 2Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 2Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 3Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 4Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 5
... 2009 First Quarter Highlights , , , ... million in the first quarter of 2008 , ... first quarter of 2008 , Saflex ... The Company,s cash generation in the quarter allowed for debt ...
... 6 ChanTest, the leading expert in ion channels ... discovery, development, and safety -- is one of eight ... Research and Commercialization Program. Governor Ted Strickland and Interim ... of the Ohio Third Frontier Commission, Mark Barbash, announced ...
... - Aegera Therapeutics is pleased to announce the ... for AEG33773, a novel, orally bio-available small molecule ... neuropathy. , The Phase 2a study, entitled A ... and Efficacy of AEG33773 versus Placebo in Patients ...
Cached Biology Technology:Solutia Reports First Quarter 2009 Results 2Solutia Reports First Quarter 2009 Results 3Solutia Reports First Quarter 2009 Results 4Solutia Reports First Quarter 2009 Results 5Solutia Reports First Quarter 2009 Results 6Solutia Reports First Quarter 2009 Results 7Solutia Reports First Quarter 2009 Results 8Solutia Reports First Quarter 2009 Results 9Solutia Reports First Quarter 2009 Results 10Solutia Reports First Quarter 2009 Results 11Solutia Reports First Quarter 2009 Results 12Solutia Reports First Quarter 2009 Results 13Solutia Reports First Quarter 2009 Results 14Solutia Reports First Quarter 2009 Results 15Solutia Reports First Quarter 2009 Results 16Solutia Reports First Quarter 2009 Results 17Solutia Reports First Quarter 2009 Results 18Solutia Reports First Quarter 2009 Results 19Solutia Reports First Quarter 2009 Results 20Solutia Reports First Quarter 2009 Results 21ChanTest Awarded $4.8 Million Through the Ohio Third Frontier Research and Commercialization Program 2ChanTest Awarded $4.8 Million Through the Ohio Third Frontier Research and Commercialization Program 3Aegera Initiates Phase 2 Clinical Trial Of AEG33773 - A Small Molecule Targeting Neuropathic Pain 2
(Date:4/17/2014)... bone marrow need to produce hydrogen sulfide in order ... a new study from the Center for Craniofacial Molecular ... USC. , Professor Songtao Shi, principal investigator on the ... the cells governs the flow of calcium ions. The ... results in osteogenesis, or the creation of new bone ...
(Date:4/17/2014)... Clemson professor Rajendra Singh Thursday as a "Champion ... expand solar deployment in the residential, commercial and ... Professor of Electrical and Computer Engineering and director ... a local hero leading the charge across the ... solar power and driving policy changes at the ...
(Date:4/17/2014)... parasites and pathogens that devastate honeybees in Europe, Asia ... but do not appear to be impacting native honeybee ... of researchers., The invasive pests include including Nosema ... African honeybees appear to be resilient to these invasive ... to control pests in Europe, Asia and the United ...
Breaking Biology News(10 mins):White House honors Clemson professor as 'Champion of Change' for solar deployment 2East African honeybees are safe from invasive pests… for now 2East African honeybees are safe from invasive pests… for now 3
... Center have discovered a basic mechanism by which smooth ... ?sometimes abnormally ?suggesting methods of treatment for various coronary ... involved in hypertension, coronary artery disease, tumors called leiosarcomas ... it is now possible to begin to design therapies ...
... different rates, and the evolutionary line that produced humans seems ... new study by scientists at the European Molecular Biology Laboratory ... very ancient ancestor that have been lost in more quickly-evolving ... genes in the first animals. The work appears in the ...
... warblers and beaver dams once were bountiful in an area ... left this area, elk grew more plentiful, browsing heavily on ... sparrows have replaced the warblers in what is now a ... of the wolf, a top predator. That's the compelling finding ...
Cached Biology News:UT Southwestern researchers unravel control of growing blood vessels 2The earliest animals had human-like genes 2The earliest animals had human-like genes 3Wolves' top-down effect 2