Kendle to repay some term debt with convertibles proceeds

By Sara Rosenberg

New York, July 9 - Kendle International Inc. will use 75% of the proceeds from its proposed $150 million convertible senior notes offering to repay term loan debt, according to a 424B5 filed with the Securities and Exchange Commission Monday.

Remaining convertible proceeds will be used for general corporate purposes, which may include repayment of other indebtedness, working capital and acquisitions or investments.

Kendle is a Cincinnati-based clinical research organization.

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