Angiotech gains access to entire revolver, removes delayed-draw loan

By Sara Rosenberg

New York, June 3 - Angiotech Pharmaceuticals Inc. amended its credit facility, eliminating the availability block on the revolver so that the full $25 million is accessible and terminating the undrawn $10 million delayed-draw term loan, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

In addition, the amendment expanded the definition of permitted investments.

The amendment was completed on May 29.

Wells Fargo Foothill is the administrative agent on the deal.

Angiotech is a Vancouver, B.C.-based specialty pharmaceutical and medical device company.

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