Valeant Pharmaceuticals to Syndicate Incremental Term Loans
MISSISSAUGA, Ontario, Nov. 30, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) today announced plans to syndicate $350 million of incremental term loans under its existing senior secured credit facilities to partially fund its previously announced acquisition of iNova. The incremental term loans will mature in April 2016 and are expected to have terms that are consistent with the Company's existing $1.725 billion Term Loan A facility. The incremental term loans are expected to close in December 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 syndicate incremental term loans and the proposed terms thereof and our expectation as to when and if the incremental term loan 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 described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company's most re