PDL: Entry Into A Material Definitive Agreement

The following excerpt is from the company's SEC filing.

On July 2, 2014, PDL BioPharma, Inc. (the Company) entered into an amendment to its credit agreement (the Credit Agreement) among the Company, the lenders party thereto, and Royal Bank of Canada as administrative agent (the Amendment). The Amendment was entered into by the parties to clarify certain language in two sections of the Credit Agreement so that the language accurately memorializes the parties’ intent. The Amendment does not change the substance of the Credit Agreement or the relations between the parties.

The foregoing description of the Credit Agreement is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Form 8-K.

10.1   Amendment, dated as of July 2, 2014, among PDL BioPharma, Inc., as borrower, the lenders from time to time party thereto and Royal Bank of Canada, as administrative agent

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. PDL BioPharma next reports earnings on August 04, 2014.

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