Kendle modifies credit facility to remove springing maturity

By Sara Rosenberg

New York, April 28 - Kendle International Inc. amended its credit facility, revising the maturity date to March 31, 2015, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Previously, the maturity was March 2015, with an acceleration to Jan. 15, 2012 if 5% or more of the company's convertible notes due 2012 were not redeemed or repaid in full by that date.

The amendment was completed on April 27.

JPMorgan is the administrative agent on the deal.

Kendle is a Cincinnati-based clinical research organization that provides clinical research services to the biopharmaceutical industry.

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