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Patheon Restructures Bank Agreement

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon, Inc. has entered into an agreement with its lenders to restructure certain financial agreements under its North American loan facilities in an effort to continue its business. The 12-month credit agreement, to be satisfied monthly, covers a six-month period from October 31, 2006 to March 31, 2007, at which point the company plans to have implemented a long-term improvement to its capital structure. “With this amendment in place, Patheon has the financial flexibility to ...

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