Home » IMPAX TO SELL $75 MILLION IN BONDS
IMPAX TO SELL $75 MILLION IN BONDS
Impax Laboratories of Hayward said recently that it has entered into a definitive agreement to sell $75 million in bonds to help cover a debt it defaulted on when it failed to file its annual report. The generic drug maker said it is selling $75 million in 3.5 percent convertible senior subordinated debentures due in 2012 in a private placement. The net proceeds, along with the company's existing cash, are being used to repay $95 million in 1.25 percent convertible senior subordinated debentures that were due in 2024.
East Bay Business Times (http://www.bizjournals.com/eastbay/stories/2005/06/27/daily4.html?from_rss=1)
KEYWORDS FDAnews Drug Daily Bulletin
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