Angiotech to repay term loan with note proceeds

By Sara Rosenberg

New York, Nov. 27 - Angiotech Pharmaceuticals Inc. plans to repay its senior secured term loan using proceeds from a proposed $325 million senior floating-rate notes offering and cash on hand, according to a company news release.

In addition, the company plans on terminating its revolving credit facility when the term loan is repaid.

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

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