May 10, 2018 / 11:06 AM / 2 months ago

BRIEF-Valeant To Seek Refinancing Of Its Existing Credit Agreement

May 10 (Reuters) - Valeant Pharmaceuticals International Inc :

* VALEANT TO SEEK REFINANCING OF ITS EXISTING CREDIT AGREEMENT

* VALEANT - SEEKING TO AMEND AND RESTATE EXISTING CREDIT AGREEMENT AND BORROW $3.815 BILLION OF NEW TERM B LOANS UNDER CREDIT AGREEMENT

* VALEANT - PROCEEDS OF NEW TERM B LOANS AND NEW DEBT SECURITIES ARE EXPECTED TO BE USED TO REFINANCE COMPANY’S OUTSTANDING TERM B LOANS, OTHERS

* VALEANT - AMENDMENT AND RESTATEMENT EXPECTED TO HAVE EFFECT OF EXTENDING MATURITY DATE OF REVOLVING FACILITY TO FIVE YEARS FROM CLOSING DATE

* VALEANT - ALSO INTENDS TO HAVE VPI ISSUE $750 MILLION OF SECURED DEBT SECURITIES AND $750 MILLION OF UNSECURED DEBT SECURITIES

* VALEANT - PROCEEDS OF NEW TERM B LOANS AND NEW DEBT SECURITIES ARE EXPECTED TO BE USED TO REFINANCE COMPANY’S OUTSTANDING TERM B LOANS

* VALEANT - PROCEEDS OF NEW TERM B LOANS AND NEW DEBT SECURITIES ARE ALSO EXPECTED TO BE USED TO REDEEM SOME NOTES Source text for Eikon: Further company coverage:

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