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Lannett voluntarily pays down $25M balance of revolver

May 9, 2017

Lannett Company, Inc. (LCI) today announced that the company voluntarily paid down the remaining principal balance of $25 million against its existing revolving credit facility.

“Since January of this year, we have made payments totaling $125 million to pay down the entire outstanding balance of our revolving credit facility,” said Arthur Bedrosian, chief executive officer of Lannett.  “As a result, we will save approximately $7.3 million in annualized cash interest expense, at current rates.  Although our industry is facing a competitive pricing environment, our business remains solid and we will continue to use our strong cash flows to further reduce our outstanding debt.”

https://yhoo.it/2q1oMVb

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