Pharma Watch: Mylan Sells $550 Million Of Senior Notes

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May 20, 2010 (FinancialWire) — Mylan Inc. (NASDAQ: MYL) said that it has completed a private placement of $550 million of 7.625% senior notes due 2017 and $700 million of 7.875% senior notes due 2020.  

Mylan said it is using $1 billion of the net proceeds from the private placement to prepay a portion of its outstanding term loans, thereby reducing senior secured leverage and extending the maturity profile of its outstanding indebtedness, and the remainder for general corporate purposes.

Pennsylvania-based Mylan is a generic and specialty pharmaceutical firm that provides products to customers in more than 140 countries and territories.

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