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:7/25/2017)... Wisconsin (PRWEB) , ... July 25, 2017 , ... ... the food and beverage industry, offers Citri-Fi® 125. This natural citrus fiber is used ... thicken and extend real tomato in sauces, condiments and spreads. Today, more than ever, ...
(Date:7/24/2017)... Bridgewater, New Jersey (PRWEB) , ... July 24, ... ... identifies staffing firms across the US and Canada who have proven their superior ... 2017 assessment, Inavero identified Spearhead Staffing as an industry leader based on service ...
(Date:7/20/2017)... ... July 20, 2017 , ... Litmus Health ... announced its full advisory board. The board comprises leaders spanning business, technology, academia, ... PhD, former VP of Engineering, to Chief Technology Officer. Crooks will lead strategy ...
(Date:7/20/2017)... ... July 20, 2017 , ... Crucial Data ... sites and study participants truly unified. TrialKit, a native mobile app, empowers investigators ... 11) research studies entirely on mobile devices. With TrialKit, clinical researchers can utilize ...
Breaking Biology Technology:
(Date:6/30/2017)... , June 30, 2017 Today, ... developer and supplier of face and eye tracking ... Featured Product provider program. "Artificial ... innovative way to monitor a driver,s attentiveness levels ... from being able to detect fatigue and prevent ...
(Date:5/16/2017)... --  Bridge Patient Portal , an enterprise patient ... Systems , an electronic medical record solutions developer ... a partnership to build an interface between the ... products, including Centricity Practice Solution (CPS), Centricity Business ... integrations will allow healthcare delivery networks using GE ...
(Date:4/17/2017)... NXT-ID, Inc. (NASDAQ: NXTD ) ("NXT-ID" or the ... Annual Report on Form 10-K on Thursday April 13, 2017 with ... ... Relations section of the Company,s website at http://www.nxt-id.com  under "SEC ... . 2016 Year Highlights: Acquisition ...
Breaking Biology News(10 mins):