Restructuring Supported by Lenders Holding in Excess of 98% of Existing Secured Bank Debt Creditors Holding in Excess of 94% of Aggregate Debt Execute Restructuring Support Agreement
PITTSBURGH , Sept.
Dendreon Corporation (NASDAQ:DNDN) (“Dendreon” or the “Company”) today
announced that it has reached agreements on the terms of a financial
restructuring with certain holders (the “Senior Noteholders”) of the
Company’s 2.875% Convertible Senior Notes due 2016 (the “2016 Notes”)
representing approximately 84% of the $620 million aggregate principal
amount of the 2016 Notes.
- Proposed Restructuring Supported by Lenders and Bondholders Holding in Excess of 80% of Debt - All Campuses and Academic Programs to Continue Without Interruption
- Deleveraged Capital Structure Will Support Continued Strategic Changes and Transformation of EDMC - Final Agreement Subject to Regulatory and Shareholder Approval PITTSBURGH , Aug.
Independent. Insightful. Trusted. Morningstar provides stock market analysis; equity, mutual fund, and ETF research, ratings, and picks; portfolio tools; and option, hedge fund, IRA, 401k, and 529 plan research. Our reliable data and analysis can help both experienced enthusiasts and newcomers.