On September 24, 2013 Merus Labs International Inc. announced that it had refinanced its debt obligation of US$39.5 million, previously provided by PDL BioPharma, Inc., by closing on two new debt instruments: a C$30 million senior credit facility with the Royal Bank of Canada and the Bank of Montreal, and a C$10 million convertible note debenture with a large Canadian institutional investor. Stewart Muglich led the team at Clark Wilson who worked on this transaction, including David Kington and Rosemary John who assisted with the banking facility and Victor Dudas who assisted on the private placement.

More information can be found in the Merus Labs International press release.