Finance

Angiotech Pharmaceuticals proposes offering of senior floating rate notes due 2013

Published in Medical Device Law Weekly, December 31st, 2006

Angiotech Pharmaceuticals, Inc., (ANPI, ANP) announced that it intends to offer US$325 million in aggregate principal amount of senior floating rate notes due 2013 in a private placement, subject to market and other conditions.

The notes will be the company's unsecured senior obligations and will rank equally in right of payment to all of the company's existing and future senior indebtedness.

The net proceeds of the offering, plus cash on hand, will be used to repay the outstanding principal amount under the company's senior secured term loan facility. The company intends to terminate its existing revolving credit facility when it repays its senior...

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Source: Medical Device Law Weekly (2006-12-31)

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