Celadon Pharmaceuticals Terminates Credit Facility
Why we think this is neutral
This RNS announcement does not contain any of the mandatory news types that would require a detailed analysis. The company is simply terminating a previously announced credit facility, which does not appear to have a significant impact on the business.
Key Points
- Celadon Pharmaceuticals to terminate previously announced credit facility
- Company no longer expects to receive any funds under the facility
- Floating charge over assets will be removed as part of termination
Summary
The pharmaceutical company has decided to terminate a credit facility it had previously announced, citing no longer needing the funds.
Celadon Pharmaceuticals Plc has announced it intends to terminate its new committed credit facility, as the company no longer expects to receive any funds under the facility. The company will also apply to have the floating charge over its assets removed as part of the termination process. All other matters related to the company's funding remain unchanged, including continued engagement with alternative providers of finance to provide working capital.
GENERAL UPDATE