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:3/24/2017)... and ROCKVILLE, Md. , March ... of Maxwell Biotech Venture Fund (MBVF), today announced positive ... added to the standard drug therapy regimen in patients ... small molecule drug discovered by scientists at Sequella, Inc. ... Institutes of Health. A total of ...
(Date:3/24/2017)... 2017 Agenus Inc. (NASDAQ: AGEN), an immuno-oncology ... cancer vaccines, today announced participation at the following conferences: ... Blair and Maidstone Life Sciences conference "Cancer Immunotherapy Conference" ... New York, NY . Agenus will participate ... 9:40 am: Robert B. Stein , M.D., Ph.D., ...
(Date:3/23/2017)... , March 23, 2017  SeraCare Life ... global in vitro diagnostics manufacturers and clinical ... industry,s first multiplexed Inherited Cancer reference ... by next-generation sequencing (NGS). The Seraseq™ Inherited ... with input from industry experts to validate ...
(Date:3/23/2017)... 23, 2017 NetworkNewsWire Editorial Coverage  ... Cancer remains ... strain on health care systems, in terms of costs and ... too does the development of innovative and efficient therapies that ... the many types of cancer treatments, a growing number of ...
Breaking Biology Technology:
(Date:3/23/2017)... Research and Markets has announced the addition of the ... Forecast to 2025" report to their offering. ... The Global Vehicle Anti-Theft System ... over the next decade to reach approximately $14.21 billion by 2025. ... forecasts for all the given segments on global as well as ...
(Date:3/20/2017)... At this year,s CeBIT Chancellor Dr. Angela Merkel ... came to the DERMALOG stand together with the Japanese Prime Minster Shinzo ... At the largest German biometrics company the two government leaders could see ... as well as DERMALOG´s multi-biometrics system.   Continue ... ...
(Date:3/9/2017)... , March 9, 2017 4Dx has publicly ... Lung Imaging Workshop at the University of Pennsylvania. Founder ... to deliver the latest data to world leaders in ... brings together leaders at the forefront of the industry ... imaging. "The quality of the imaging ...
Breaking Biology News(10 mins):