Mylan repays $196 million term-loan borrowings

PITTSBURGH Mylan last month 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, the company said Friday.

"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," Mylan chairman and CEO Robert J. Coury said.

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

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