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.
Forward-looking Statements
This news release may
contain forward-looking statements, including, but not limited to,
the Company's financing plans, including the offering of Notes and
the details thereof, including the proposed use of proceeds
therefrom, and other expected effects of the offering of Notes.
Forward-looking statements may generally be identified by the use
of the words "anticipates," "expects," "intends," "plans,"
"should," "could," would," "may," "will," "believes," "estimates,"
"potential," "target," or "continue" and variations or similar
expressions. These statements 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, the
aggregate amount of notes tendered (which could lead to repurchases
of other notes) and risks and uncertainties discussed in our most
recent annual report and detailed from time to time in our other
filings with the Securities and Exchange Commission and the
Canadian Securities Administrators, which risks and uncertainties
are incorporated herein by reference. Readers are cautioned not to
place undue reliance on any of these forward-looking statements.
These forward-looking statements speak only as of the date hereof.
We undertake no obligation to update any of these forward-looking
statements to reflect events or circumstances after the date of
this news release or to reflect actual outcomes, except as required
by law.
Investor
Contact:
|
Media
Contact:
|
Arthur
Shannon
|
Lainie
Keller
|
arthur.shannon@valeant.com
|
lainie.keller@valeant.com
|
(514)
856-3855
|
(908)
927-0617
|
(877) 281-6642 (toll
free)
|
|
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SOURCE Valeant Pharmaceuticals International, Inc.