MDS raises US $311 million to repay bank debt

MDS Inc has concluded a US $311-million private debt placement consisting of five series of guaranteed senior unsecured notes. The notes vary in size from $17 million to $156 million with terms ranging from four to 10 years., The Toronto-based life sciences company says the financing represents a long-term solution to its financing needs. The proceeds will be used to repay existing and future tranches of bank debt over the next 12 months....