OTTAWA, June 6, 2011 /PRNewswire/ - Nordion Inc. (TSX: NDN) (NYSE: NDZ), a leading provider of products and services to the global health science market, today announced it has entered into a three-year US$75 millionrevolving committed credit facility with Toronto-Dominion Bank as its lead lender.
"The use of the facility further strengthens our balance sheet and provides additional flexibility to operate our business and unlock value for shareholders," said Peter Dans, Chief Financial Officer of Nordion.
Nordion plans to use the credit facility to reissue existing letters of credit, which would in turn release approximately US$20 million in restricted cash, to issue future letters of credit, and to provide an additional source of liquidity.
The facility is secured by the company's assets and is subject to customary covenants.
About Nordion Inc.
Nordion Inc. (TSX: NDN) (NYSE: NDZ) is a global specialty health science company that provides market-leading products used for the prevention, diagnosis and treatment of disease. We are a leading provider of medical isotopes, targeted therapies and sterilization technologies that benefit the lives of millions of people in more than 60 countries around the world. Our products are used daily by pharmaceutical and biotechnology companies, medical-device manufacturers, hospitals, clinics and research laboratories. Nordion has more than 500 highly skilled employees in three locations. Find out more at www.nordion.com.
Forward Looking Statements
Certain statements contained in this news release constitute "forward-looking statements". These statements are based on current beliefs and assumptions of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. For additional information with respect to certain of these beliefs, assumptions, risks and uncertainties, please refer to Nordion's Annual Information Form for fiscal 2010 available on SEDAR at www.sedar.com and on EDGAR on www.sec.gov.
SOURCE Nordion Inc.
