Valeant Announces Redemption Of Remaining $71 Million Aggregate Principal Amount Of Its Outstanding 7.00% Senior Unsecured Notes Due 2020
Published: Feb 28, 2018
LAVAL, Quebec, Feb. 28, 2018 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant") today announced that Valeant Pharmaceuticals International, a wholly owned indirect subsidiary of Valeant, will redeem the remaining $71 million aggregate principal amount of its outstanding 7.00% Senior Unsecured Notes due 2020 (the "Notes"), using cash on hand, on March 30, 2018 and will issue today an irrevocable notice of redemption for the Notes. The Notes were originally issued in 2010.
"Addressing our debt remains a priority for us as we continue to transform Valeant," said Joseph C. Papa, chairman and CEO, Valeant. "Due to strong operating cash flow, we are able to redeem these notes of more than $70 million due in 2020."
On Feb. 28, 2018, a copy of the irrevocable notice of redemption with respect to the remaining Notes will be issued to record holders of the Notes. Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company. The name and address of the paying agent are as follows: The Bank of New York Mellon Trust Company, N.A. c/o The Bank of New York Mellon; 111 Sanders Creek Parkway, East Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: 800-254-2826.
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SOURCE Valeant Pharmaceuticals International, Inc.
Company Codes: NYSE:VRX, Toronto:VRX