Concordia (CXRX) Reports Cross Currency Swap Agreement
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Concordia International Corp. (NASDAQ: CXRX) together with its subsidiaries ("Concordia") - an international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs, today announced that it has entered into a cross currency swap agreement (the "Swap Agreement").
As previously disclosed, Concordia was actively evaluating currency hedging alternatives. Concordia believes that the Swap Agreement will further align its British pound-sterling ("GBP") earnings and strong free cash flow with its debt obligations and will moderate the impact of fluctuations in the GBP to U.S. Dollar ("USD") exchange rate.|
The pay fixed GBP / receive fixed USD cross currency swap has a 1notional amount of USD$382 million and effectively converts this amount of Concordia's USD debt obligations into a GBP obligation in the amount of approximately GBP 297 million. The maturity date of the Swap Agreement is April 15, 2023.
Concordia will continue to monitor its currency risks and hedging strategies.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ocean Power Technologies (OPTT) Reports Q2 Loss of $0.25/Share
- F.N.B. Corp (FNB), Yadkin Financial (YDKN) Shareholders Approve Merger
- CollegeInvest's Stable Value Plus Maintains Country's Second Highest Rate of Return
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!