LCI - Lannett pays off remaining $42M in outstanding loans

Using cash on hand, Lannett Company (LCI) has fully repaid the remaining outstanding balance of $42M in its Term A Loans.CEO Tim Crew says, "Paying off our Term A Loans is an important achievement and a key step toward strengthening our balance sheet and improving our long-term financial health. This payoff will result in annual reductions of interest expense and principal payments of approximately $3 million and $27 million, respectively. At the same time, we have enhanced our financial flexibility, as the company's remaining debt is free of financial covenants."

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Lannett pays off remaining $42M in outstanding loans