PDL BioPharma Inc. (PDLI)

[Trinityz1]

PDL BioPharma Announces Retirement of $133.5 Million of 2.00% Convertible Senior Notes Due February 2012

INCLINE VILLAGE, NV, July 5, 2011 – PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) announced today that it has completed the retirement of the remaining $133.5 million in aggregate principal of the Company’s 2.00% Convertible Senior Notes, due February 15, 2012 (the Notes), for $133.9 million plus interest of $1.0 million. With the completion of this redemption, no Notes remain outstanding.

About PDL BioPharma
PDL pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The Company receives royalties on sales of a number of humanized antibody products marketed by leading pharmaceutical and biotechnology companies today based on patents which expire in late 2014. For more information, please visit www.pdl.com.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

from:
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 30, 2011
PDL BioPharma, Inc
(Exact name of Company as specified in its charter)
000-19756(Commission File Number)


looks like good news to me
and right on cue down goes the SP......
good thing there's some thing we can count on to shine