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:10/7/2017)... 6, 2017   Provista, a proven leader ... billion in purchasing power, today announced a new resource ... The Newsroom is the online home for case ... expert bios, news releases, slideshows and events. ... wealth of resources at their fingertips, viewers can also ...
(Date:10/4/2017)... Korea , Oct. 4, 2017  South Korean-based ... next-generation CPR training aide "cprCUBE" on Kickstarter. The device ... compression during cardiac arrests with better efficiency compared to ... also offers real-time feedback on efficacy of the compression ... crowdfunding campaign has a goal to raise $5,000. ...
(Date:10/4/2017)... OBP Medical , a leading ... today announced regulatory approval from Brazil,s ... Nacional de Vigilância Sanitária (ANVISA)) to market ... with integrated LED light source and smoke evacuation ... of a tissue pocket or cavity during surgical ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ... Agile Software Development, has been awarded a contract by the Center for Medicare ... (BPA) aims to accelerate the enterprise use of Agile methodologies in a consistent ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... advisory services for healthcare compliance program management, will showcase a range of technology ... Association for Assisted Living (NCAL) Convention and Expo to be held October 14–18, ...
(Date:10/12/2017)... ... October 12, 2017 , ... The company ... of today’s consumer and regulatory authorities worldwide. From Children’s to Adults 50+, every ... meet the highest standard. , These products are also: Gluten Free, Non-GMO, ...
(Date:10/12/2017)... ... 2017 , ... Asante, a nationally recognized health system in ... existing home health joint venture through an agreement, effective October 1, 2017, to ... home health company with Asante, delivering clinically integrated care, for the past eight ...
(Date:10/12/2017)... , ... October 12, 2017 , ... HMP , ... recipient of a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ ... on October 11, 2017. , The annual award competition recognizes editorial and design excellence ...
Breaking Medicine News(10 mins):