Mylan pays down $196 million of term loan borrowings due in 2011

By Sara Rosenberg

New York, Jan. 8 - Mylan Inc. repaid $196 million of its term loan debt in late December, according to a news release.

As a result of the repayment, the company has no term loan obligations coming due until 2012.

"The accelerated payment of our 2011 bank term-loan maturities reflects our continued strong operating cash flows and our continuing effort to aggressively de-lever our balance sheet," said Robert J. Coury, chairman and chief executive officer, in the release.

Mylan is a Canonsburg, Pa.-based generic and specialty pharmaceutical company.

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