Mylan draws $600 million under term loan to repay 3.75% convertibles

By Marisa Wong

Morgantown, W.Va., Sept. 15 – Mylan Inc. borrowed $600 million in the form of a delayed-draw term loan under its term credit agreement dated July 15, 2015, according to an 8-K filing with the Securities and Exchange Commission.

The company made the drawdown on Tuesday. Loan proceeds were used primarily to repay in full the company’s 3.75% cash convertible notes due Sept. 15, 2015. Remaining funds were used to refinance other debt under Mylan NV or Mylan Inc.’s credit facilities.

Bank of Tokyo–Mitsubishi UFJ, Ltd., Deutsche Bank AG New York Branch, Goldman Sachs Bank USA, DNB Bank ASA Grand Cayman Branch and PNC Bank, NA are lenders, with PNC Bank as the administrative agent for the term loan.

Mylan is a pharmaceutical company based in Hatfield, England.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.