March 29, 2017 / 9:35 PM / 4 months ago

BRIEF-Exelixis further reduces indebtedness by repaying Silicon Valley Bank term loan

1 Min Read

March 29 (Reuters) - Exelixis Inc:

* Exelixis further reduces indebtedness by repaying silicon valley bank term loan

* Exelixis Inc - Exelixis also plans to eliminate another source of indebtedness later this year by retiring Deerfield notes

* Exelixis- repaid all amounts outstanding under term loan with silicon valley bank initiated in 2010 and which was due for repayment on may 31, 2017

* Exelixis Inc - retiring Deerfield notes 1 year ahead of maturity date will provide savings of about $12 million in interest expense, net of termination fee

* Exelixis Inc - $80.1 million payment included $80.0 million in principal and approximately $60,000 in interest outstanding Source text for Eikon: Further company coverage:

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