FAIRFIELD, N.J.--(BUSINESS WIRE)--Unigene Laboratories, Inc. (OTCBB: UGNE) announced that it has repaid $1 million in stockholder debt and restructured the remaining $15.7 million debt balance as eight-year term notes with a fixed simple interest rate of 9% per annum. The new notes replace short term debt, a portion of which was in default. Payments under the new notes are not required for the first three years.
