Valeant Announces Launch Of Private Offering Of Senior Notes
CNW Group CNW Group•March 12, 2018
LAVAL, Quebec , March 12, 2018 /CNW/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant" or the "Company") announced today that Valeant Pharmaceuticals International (the "Issuer"), the Company's wholly owned indirect subsidiary, has launched an offering of $1,250,000,000 aggregate principal amount of unsecured senior notes due 2026 (the "Notes"). The net proceeds from the offering of the Notes, along with cash on hand, will be used to repurchase $1,250,000,000 aggregate principal amount of outstanding notes pursuant to a tender offer announced earlier today, including the Issuer's outstanding 6.375% Senior Notes due 2020, the Company's outstanding 5.375% Senior Notes due 2020 and up to $100,000,000 principal amount of the Issuer's 6.750% Senior Notes due 2021, and to pay related fees and expenses.
The Notes will be guaranteed by the Company and each of its subsidiaries that are guarantors under the Company's credit agreement. Consummation of the offering of the Notes is subject to market and other conditions, and there can be no assurance that the Issuer will be able to successfully complete this transaction on the terms described above, or at all.
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 pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons pursuant to Regulation S under 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.
This news release is being issued pursuant to Rule 135c under the Securities Act and 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 unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Valeant
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 dermatology, gastrointestinal disorders, eye health, neurology and branded generics.
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