Navigation Links
Mylan Successfully Upsizes and Completes Refinancing of Credit Facility
Date:11/14/2011

PITTSBURGH, Nov. 14, 2011 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today announced that it has successfully completed the previously announced refinancing of its existing secured credit facility. The company's new $2.5 billion senior secured credit facility was upsized from the originally planned $2.25 billion and comprises a $1.25 billion revolving credit facility and a $1.25 billion Term Loan A facility. The proceeds were used to repay Mylan's existing secured credit facility and related fees and expenses. Approximately $200 million of the revolving credit facility was drawn at close.

The new senior secured facility matures in 2016 with an initial rate of LIBOR + 200 basis points, which is more than 100 basis points lower than the weighted average rate on the prior facility.

Mylan Chief Financial Officer John Sheehan said: "We are very pleased with the confidence that the financial markets continue to show in Mylan, as it has allowed us to upsize our credit facility while reducing our borrowing costs. With this transaction, we now have refinanced more than $5 billion in new borrowings and credit facilities since 2008, enabling us to significantly extend our debt maturities and enhance our operating flexibility."

Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 150 countries and territories. The company maintains one of the industry's broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world's largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on respiratory, allergy and psychiatric therapies. For more information about Mylan, please visit www.mylan.com. For more information about generic drugs, please visit www.ChoosingGenerics.com.


'/>"/>
SOURCE Mylan Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Mylan Applauds Obama Administrations Call to Create an "AIDS-Free Generation" Through Global Fight Against HIV/AIDS
2. Mylan to Acquire Pfizer Respiratory Delivery Platform
3. Mylan Receives Approval for Generic Version of MS Contin® Tablets
4. Mylan Launches First Generic Version of Exelon® Capsules in the U.K.
5. Mylans Dey Pharma Successfully Obtains Patent Reexamination Certificates for Two Perforomist® Patents
6. Matrix Laboratories Completes Name Change to Mylan Laboratories
7. Mylan Announces Femcon® Fe Settlement Agreement
8. Mylan Announces Intention to Refinance Existing Secured Credit Facility
9. Mylan Comments on Death of Company Co-Founder and Former Chairman and CEO Milan "Mike" Puskar
10. Mylan Applauds Study Highlighting $931 Billion in Savings for U.S. Health Care System Due to Generic Drugs
11. Mylan Announces XELODA® Settlement and License Agreement
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... WASHINGTON , May 26, 2016 ... Microspheres, Associated With Both Cost Savings and ... BTG plc (LSE: BTG), an international specialist healthcare ... data at the 21st Annual Meeting of ISPOR ... that treatment of hepatocellular carcinoma (HCC) using yttrium-90 ...
(Date:5/26/2016)... , May 26, 2016 Since ... matured into an essential life science tool for conducting ... applications. BCC Research reveals in its new report that ... growth phase, one powered by a range of new ...      (Logo: http://photos.prnewswire.com/prnh/20140723/694805 ) , ...
(Date:5/25/2016)... 25, 2016 According to a ... (3D, 2D, 4D), by Therapeutic Area (Oncology, Cosmeceutical/Plastic Surgery), ... (Medical Device Manufacturers, Hospitals/ Clinics) - Forecast to 2021", ... Animation Market for the forecast period of 2016 to ... Million by 2021 from USD 117.3 Million in 2016, ...
Breaking Medicine Technology:
(Date:5/26/2016)... San Rafael, CA (PRWEB) , ... May 26, ... ... Studio will be offering campers a multitude of activities from daily practices, arts ... and self-confidence. , Camp Directors Amber East-D’Anna and Christy Evans have combined backgrounds ...
(Date:5/26/2016)... ... ... The MIAMI Institute for Age Management and Intervention celebrates Global Wellness Day with ... Adonis , Wellness Physician of the MIAMI Institute is certified by the American Academy ... , He also heads up FITTLab, the comprehensive medical testing lab located in The ...
(Date:5/26/2016)... ... 26, 2016 , ... Power Systems, a leading developer and ... Certification Course in Stoughton, Massachusetts. The course was led by Power Systems’ Education ... hour interactive course to qualify participants as certified PowerWave trainers. , PowerWave ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... ... information to oncology professionals, has added National Cancer Institute-designated University of Virginia ... , In this new partnership, OncLive’s editorial and marketing teams will publicize and ...
(Date:5/26/2016)... City, CA (PRWEB) , ... May 26, 2016 , ... ... Silicon Valley-based startup, The Dough Bar, has ignited an undeniable buzz in ... -- a doughnut. But not just any doughnut.  These doughnuts are packed with 11 ...
Breaking Medicine News(10 mins):