trending Market Intelligence /marketintelligence/en/news-insights/trending/qpoi5gbzq2swazjh4hgohq2 content esgSubNav
In This List

Valeant to repurchase $1.45B of debt

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Perspectives from China: Chinese M&A in 2022


Valeant to repurchase $1.45B of debt

Valeant Pharmaceuticals International Inc. is repurchasing $1.45 billion of its outstanding senior notes in tender offers.

The Canadian drugmaker noted that about $364.7 million in notes were tendered out of $660.5 million of outstanding 6.375% senior notes due 2020. About $1.02 billion in notes are expected to be accepted for purchase out of $1.71 billion of outstanding 5.375% senior notes maturing 2020. Meanwhile, $72.5 million in notes were tendered out of $650.0 million of outstanding 6.750% senior notes due 2021.

Valeant expects to accept for purchase all the notes validly tendered before March 23, the early tender date, subject to certain conditions. The conditions to the tender offers are expected to be satisfied as of March 26.

The tender offers will expire at 11:59 p.m. ET on April 9.

Deutsche Bank Securities is acting as the dealer manager in the tender offers. Global Bondholder Services Corp. has been retained to serve as both the depositary and the information agent for the offers.