Valeant Pharmaceuticals to Syndicate Incremental Term Loans
Valeant Pharmaceuticals International, Inc. announced plans to syndicate $500 million of incremental term loans under its existing senior secured credit facilities to fund repayment of amounts outstanding under its existing $275 million revolving facility and for general corporate purposes, including acquisitions.
The incremental term loans will mature in 2019 and are expected to have terms that are similar to the company’s existing $600 million term loan B facility, with certain modifications. The incremental term loans are expected to close in June 2012, subject to market and other customary conditions.
Valeant Pharmaceuticals International is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.
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