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:6/23/2016)... ... June 23, 2016 , ... Charm Sciences, Inc. ... test has received AOAC Research Institute approval 061601. , “This is another AOAC-RI ... stated Bob Salter, Vice President of Regulatory and Industrial Affairs. “The Peel Plate ...
(Date:6/23/2016)... ON (PRWEB) , ... June 23, 2016 , ... STACS ... DNA Technical Leader at the Arkansas State Crime Laboratory, has joined STACS DNA as ... the STACS DNA team,” said Jocelyn Tremblay, President and COO of STACS DNA. “In ...
(Date:6/23/2016)... 2016 On Wednesday, June 22, 2016, ... 0.22%; the Dow Jones Industrial Average edged 0.27% lower to ... down 0.17%. Stock-Callers.com has initiated coverage on the following equities: ... (NASDAQ: NKTR ), Aralez Pharmaceuticals Inc. (NASDAQ: ... BIND ). Learn more about these stocks by accessing their ...
(Date:6/23/2016)... ReportsnReports.com adds 2016 global ... pharmaceuticals section with historic and forecast data along ... Complete report on the Cell Culture ... companies and supported with 261 tables and figures ... The Global Cell Culture Media Industry ...
Breaking Biology Technology:
(Date:6/2/2016)... --  The Weather Company , an IBM Business (NYSE: ... in which consumers will be able to interact with IBM ... voice or text and receive relevant information about the product ... have long sought an advertising solution that can create a ... and valuable; and can scale across millions of interactions and ...
(Date:5/20/2016)... 2016  VoiceIt is excited to announce its ... By working together, VoiceIt and VoicePass will ... VoicePass take slightly different approaches to voice biometrics, ... and usability. ... partnership. "This marketing and technology partnership ...
(Date:5/3/2016)... VILNIUS, Lithuania , May 3, 2016 /PRNewswire/ ... today released the MegaMatcher Automated Biometric Identification ... deployment of large-scale multi-biometric projects. MegaMatcher ABIS can ... and accuracy using any combination of fingerprint, face ... of MegaMatcher SDK and MegaMatcher ...
Breaking Biology News(10 mins):