
	September 30, 2011		December 31, 2010
	(In thousands)
Euro Tranche A Term Loans^(A)	$	235,847	$	234,550
U.S. Tranche B Term Loans^(A)		500,000		500,000
Euro Tranche B Term Loans^(A)		678,434		674,705
Senior Convertible Notes^(B)		586,602		565,476
Cash Convertible Notes^(C)		766,466		928,344
2017 Senior Notes		550,000		550,000
2018 Senior Notes^(D)		828,461		787,728
2020 Senior Notes^(E)		1,014,944		1,015,848
Other		4,344		11,534

		5,165,098		5,268,185
Less: Current portion		681,877		4,809

Total long-term debt	$	4,483,221	$	5,263,376

^(A)	All 2011 mandatory principal payments due under the Senior Credit Agreement were prepaid during 2009. In May 2011, the Senior Credit Agreement was amended to increase the minimum amount of other restricted payments permitted under the Senior Credit Agreement from $50 million to $300 million.

^(B)

At September 30, 2011, the $586.6 million of debt is net of a $13.4 million discount. At December 31, 2010, the $565.5 million of debt is net of a $34.5 million discount. As of September 30, 2011, the effective conversion rate for the Senior Convertible Notes was 42.156 shares of common stock per $1,000 principal amount of notes, representing a stock price of $23.72 per share, reflecting the Company's suspension of its cash dividend. On October 3, 2011, the effective conversion rate for the Senior Convertible Notes was adjusted to 41.678 shares of common stock per $1,000 principal amount of notes, representing a stock price of $23.99 per share. As these notes are due in March 2012, this amount is now classified as a current portion of long-term debt.

^(C)

At September 30, 2011, the $766.5 million consists of $471.6 million of debt ($575.0 million face amount, net of $103.4 million discount) and the bifurcated conversion feature with a fair value of $294.9 million recorded as a liability within long-term debt in the Condensed Consolidated Balance Sheets at September 30, 2011. The Cash Convertible Notes will mature on September 15, 2015, subject to earlier repurchase or conversion. Holders may convert their notes subject to certain conversion provisions determined by the market price of the company's common stock, specified distributions to common shareholders, a fundamental change, and certain time periods specified in the purchase agreement. Additionally, the Company has purchased call options, which are recorded as assets at their fair value of $294.9 million within other assets in the Condensed Consolidated Balance Sheets at September 30, 2011. At December 31, 2010, the $928.3 million consisted of $455.9 million of debt ($575.0 million face amount, net of $119.1 million discount) and the bifurcated conversion feature with a fair value of $472.4 million recorded as a liability within other long-term obligations in the Condensed Consolidated Balance Sheets. The purchased call options are assets recorded at their fair value of $472.4 million within other assets in the Condensed Consolidated Balance Sheets at December 31, 2010.

As of September 30, 2011, because the closing price of Mylan's common stock for at least 20 trading days in the period of 30 consecutive trading days ending on the last trading day in the September 30, 2011 period, was more than 130% of the applicable conversion reference price of $13.32 at September 30, 2011, the $575.0 million of Cash Convertible Notes were convertible. Although the Company's experience is that convertible debentures are not normally converted by investors until close to their maturity date, it is possible that debentures could be converted prior to their maturity date if, for example, a holder perceives the market for the debentures to be weaker than the market for the common stock. Upon an investor's election to convert, the Company is required to pay the full conversion value in cash. Should holders elect to convert, the Company intends to draw on its revolving credit facility to fund any principal payments. The amount payable per $1,000 notional bond would be calculated as the product of (1) the conversion reference rate (currently 75.0751) and (2) the average Daily Volume Weighted Average Price per share of common stock for a specified period following the conversion date. Any payment above the principal amount is matched by a convertible note hedge.

^(D)

At September 30, 2011, the $828.5 million of debt is net of a $11.3 million discount. At December 31, 2010, the $787.7 million of debt is net of a $12.3 million discount. In 2011, the Company entered into interest rate swaps which convert $500.0 million of principal debt to a variable rate. The variable rate is 3.25% at September 30, 2011. The $828.5 million of debt includes a mark to market adjustment of $39.8 million associated with these interest rate swaps.

^(E)	At September 30, 2011, the $1.02 billion of debt includes a $14.9 million premium. At December 31, 2010, the $1.02 billion of debt includes a $15.8 million premium.

Details of the interest rates in effect at September 30, 2011 and December 31, 2010 on the outstanding borrowings under the Term Loans are in the table below:


	September 30, 2011
	Outstanding		Basis			Rate
	(In thousands)
Euro Tranche A Term Loans	$	235,847		EURIBO + 2.75	%		4.11	%
U.S. Tranche B Term Loans
Swapped to Fixed Rate — December 2012 ⁽¹⁾	$	500,000		Fixed			6.60	%
Euro Tranche B Term Loans	$	678,434		EURIBO + 3.25	%		4.60	%

	December 31, 2010
	Outstanding		Basis			Rate
	(In thousands)
Euro Tranche A Term Loans	$	234,550		EURIBO + 2.75	%		3.66	%
U.S. Tranche B Term Loans
Swapped to Fixed Rate — December 2012 ⁽¹⁾	$	500,000		Fixed			6.60	%
Euro Tranche B Term Loans
Swapped to Fixed Rate — March 2011 ⁽¹⁾	$	267,740		Fixed			5.38	%
Floating Rate		406,965		EURIBO + 3.25	%		4.11	%

Total Euro Tranche B Term Loans	$	674,705

⁽¹⁾	Designated as a cash flow hedge of expected future borrowings under the Senior Credit Agreement

At September 30, 2011, the fair value of the Senior Notes and Senior Convertible Notes was approximately $3.01 billion, and at December 31, 2010, the fair value of the Senior Notes and Senior Convertible Notes was approximately $3.06 billion. At September 30, 2011 and December 31, 2010, the fair value of the Cash Convertible Notes was approximately $831.4 million and $996.2 million.

Mandatory minimum repayments remaining on the outstanding borrowings under the term loans and notes at September 30, 2011, at notional amounts, are as follows for each of the periods ending December 31: