Mylan pre-pays $196M bank term-loan borrowings due in 2011

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Jan 9 2010

Mylan Inc. (Nasdaq: MYL) today announced that, in late December 2009, the company pre-paid $196 million in bank term-loan borrowings that were due in 2011. As a result, the company has no term-loan obligations coming due until 2012.

Mylan Chairman and CEO Robert J. Coury said: "The accelerated payment of our 2011 bank term-loan maturities reflects our continued strong operating cash flows and our continuing effort to aggressively de-lever our balance sheet."

Separately, the company announced that, during the fourth quarter of 2009, it realized litigation-related cash recoveries in excess of $52 million.

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Mylan Inc.

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