Navigation Links
PDL BioPharma Completes Exchange to Retire $92.0 Million of 2.00% Convertible Notes Due August 2012
Date:11/5/2010

INCLINE VILLAGE, Nev., Nov. 5, 2010 /PRNewswire/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) announced today that it has completed the exchange of $92.0 million in aggregate principal of the Company's outstanding 2.00% Convertible Senior Notes due February 15, 2012 (the 2012 Notes) in separate, privately negotiated exchange transactions with the note holders.  Pursuant to the exchange transactions, the note holders received $92.0 million in aggregate principal of new 2.875% Convertible Senior Notes due February 15, 2015 (the 2015 Notes).  As part of the transaction, the Company also placed an additional $88.0 million in aggregate principal of the 2015 Notes.  Following the exchange transactions, $136.0 million of the 2012 Notes remain outstanding.  The conversion rate for the 2015 Notes is 140.571 shares of common stock per $1,000 principal amount of the 2015 Notes or $7.11 per share of common stock.  The shares of the Company's common stock issuable upon the conversion of the 2015 Notes have been reserved for issuance by the Company and listed on the Nasdaq Stock Market.

About PDL BioPharma

PDL pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases.  PDL is focused on maximizing the value of its antibody humanization patents and related assets.  The Company receives royalties on sales of a number of humanized antibody products marketed by leading pharmaceutical and biotechnology companies today based on patents which expire in late 2014.  For more information, please visit www.pdl.com.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.


'/>"/>
SOURCE PDL BioPharma, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1

Related biology technology :

1. PDL BioPharma Announces Exchange to Retire 2.00% Convertible Senior Notes Due February 15, 2012
2. A New BioPharma Intelligence Resource Set to Give Industry Leaders the Edge
3. Reportlinker Adds Downstream Processing in Biopharmaceuticals - Increased Demand for Biologics Drives Improvement in Cost -effective Purification Technologies
4. Biopharma Leaders to Reveal Successful Strategies for China, India at the PharmAsia Summit in San Francisco
5. Helix BioPharma Completes Definitive GLP Toxicology Studies With L-DOS47 and is Making Final Preparations for its Planned Phase I/II Clinical Study IND/CTA Submissions
6. Genesis Biopharma to Present at the Informed Investors Forum Biotech, Healthcare & Pharma Virtual Conference on October 13
7. PDL BioPharma Completes October 1 Special Dividend Payment
8. Genesis Biopharma Announces $700K Private Financing
9. Signal Genetics Announces Partnership with Array BioPharma to Advance a Multiple Myeloma Program Backed by Companion Diagnostics
10. Keryx Biopharmaceuticals to Present at the UBS 2010 Global Life Sciences Conference
11. Helix BioPharma Approved for NYSE Amex Listing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... 2016  Liquid Biotech USA ... a Sponsored Research Agreement with The University of ... from cancer patients.  The funding will be used ... with clinical outcomes in cancer patients undergoing a ... be employed to support the design of a ...
(Date:6/24/2016)... Raleigh, NC (PRWEB) , ... June 24, 2016 , ... ... find the most commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings ... here to read it now. , Diagnostic biomarkers are signposts in the blood, ...
(Date:6/23/2016)... Md. , June 23, 2016 A person ... from the crime scene to track the criminal down. ... the U.S. Food and Drug Administration (FDA) uses DNA evidence ... Sound far-fetched? It,s not. The FDA ... sequencing to support investigations of foodborne illnesses. Put as simply ...
(Date:6/23/2016)...   EpiBiome , a precision microbiome engineering company, ... financing from Silicon Valley Bank (SVB). The financing will ... its drug development efforts, as well as purchase additional ... has been an incredible strategic partner to us – ... would provide," said Dr. Aeron Tynes Hammack , ...
Breaking Biology Technology:
(Date:6/2/2016)... -- Perimeter Surveillance & Detection Systems, Biometrics ... Support & Other Service  The latest report ... analysis of the global Border Security market . ... $17.98 billion in 2016. Now: In November ... software and hardware technologies for advanced video surveillance. ...
(Date:5/16/2016)...   EyeLock LLC , a market leader of ... an IoT Center of Excellence in Austin, ... of embedded iris biometric applications. EyeLock,s iris ... security with unmatched biometric accuracy, making it the most ... EyeLock,s platform uses video technology to deliver a fast ...
(Date:4/28/2016)... FRANCISCO and BANGALORE, India , ... of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: ... provider, today announced a global partnership that will ... way to use mobile banking and payment services. ... is a key innovation area for financial services, but it ...
Breaking Biology News(10 mins):