MISSISSAUGA, Ontario, Feb. 3, 2011 /PRNewswire/ — Valeant
Pharmaceuticals International, Inc. (NYSE:
VRX) (TSX: VRX) (the “Company”) announced today that Valeant
Pharmaceuticals International (“Valeant”), its wholly owned
indirect subsidiary, launched its offer of approximately $650
million aggregate principal amount of senior unsecured notes (the
“Notes”).
The Notes will not be registered under the Securities Act of
1933, as amended (the “Securities Act”), or any state securities
law and may not be offered or sold in the United States absent
registration or an applicable exemption from registration under the
Securities Act and applicable state securities laws. The Notes will
be offered in the United States only to qualified institutional
buyers under Rule 144A of the Securities Act and outside the United
States under Regulation S of the Securities Act. The Notes
have not been and will not be qualified for sale to the public by
prospectus under applicable Canadian securities laws and,
accordingly, any offer and sale of the securities in Canada will be
made on a basis which is exempt from the prospectus requirements of
such securities laws.
Valeant intends to use the net proceeds from the offering of the
Notes to finance the acquisition of PharmaSwiss S.A., a
privately-owned branded generics and over-the-counter (OTC)
pharmaceutical company based in Zug, Switzerland and the
acquisition of all U.S. and Canadian rights to non-ophthalmic
topical formulations of Zovirax® from GlaxoSmithKline and to
pay fees and expenses in connection with these acquisitions and for
general corporate purposes.
This press release shall not constitute an offer to sell or
the solicitation of an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or
sale would be u
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