Big pharma, Financing

Valeant Pharmaceuticals raises $1 billion in private financing

Posted on 15 January 2015

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Big pharma, Valeant Pharmaceuticals International, has completed the private placement financing of senior unsecured notes due 2023, for gross proceeds of USD1 billion.

The notes bear an interest rate of 5.5% per annum and will mature on March 1, 2023.

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Interest on the notes will be payable semi-annually in arrears on each March 1 and September 1.

Interest on the notes will accrue from January 30, 2015.

The notes guaranteed by each of Valeant Pharma’s subsidiaries that is a guarantor of the Valeant Pharma's senior secured credit facilities.

The offering was subscribed to by qualified institutional investors.

The company intends to use the proceeds from the financing  to finance the redemption of all of the outstanding 6.875% senior notes due 2018; to repay all or a portion of the amounts drawn under its revolving credit facility, and for general corporate purposes, including acquisitions.

For further financing deal information visit Current Agreements (subscription required)

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