MISSISSAUGA, Ontario, Sept. 20, 2011 /PRNewswire/ — Valeant
Pharmaceuticals International, Inc. (NYSE/TSX: VRX) today announced
plans to refinance the existing senior secured credit facilities of
its wholly owned subsidiary Valeant Pharmaceuticals International.
The existing credit facilities are guaranteed by the Company.
The proposed $1.7 billion senior secured credit facility is
expected to consist of a $200 million revolving facility and a $1.5
billion Term Loan A facility, which includes a $500 million delayed
draw term loan. All tranches will be 4.5 years in tenor and
are expected to have terms that are customary for this type of
financing. The facility is expected to close in October 2011,
subject to market and other customary conditions.
About Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) 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. More information about Valeant Pharmaceuticals
International, Inc. can be found at www.valeant.com.
This press release may contain forward-looking statements.
Forward-looking statements may be identified by the use of
the words “anticipates,” “expects,” “intends,” “plans,” “should,”
“could,” “would,” “may,” “will,” “believes,” “estimates,”
“potential,” or “continue” and variations or similar expressions.
These statements which include statements regarding our plans to
refinance our credit facility and the proposed terms thereof and
our expectation as to when and if the facility will close, are
based upon the current expectations and beliefs of management and
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those desc