Mylan to repay some bank debt with convertibles proceeds

By Sara Rosenberg

New York, Sept. 8 - Mylan Inc. plans to repay some revolving credit facility and term loan borrowings using proceeds from the sale of $400 million cash convertible notes, according to a news release.

Mylan is a Canonsburg, Pa.-based developer, manufacturer, marketer, licenser and distributor of generic, brand, and branded generic pharmaceutical products, as well as active pharmaceutical ingredients.

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