Navigation Links
Valeant Announces Upsizing Of Cash Tender Offer For Its 6.75% Senior Notes Due 2018
Date:3/10/2017

LAVAL, Quebec, March 10, 2017 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) ("Valeant," the "Company" or "we") announced today that it has increased the maximum aggregate principal amount of its outstanding 6.75% Senior Notes Due 2018 (the "Notes") that it may purchase pursuant to its previously announced offer to purchase for cash upon terms and subject to the conditions set forth in the Offer to Purchase, dated March 7, 2017, as supplemented by this release, and a related Letter of Transmittal. The Company announced that it has increased the maximum aggregate principal amount of Notes that may be purchased pursuant to the tender offer from $600,000,000 to $1,100,000,000. All other terms and conditions of the tender offer will remain the same.

Information relative to the tender offer is set forth in the table below.

Title ofSecurity144A CUSIP/ISINNumberReg S CUSIP/ISINNumberPrincipalAmountOutstandingTender OfferConsideration*EarlyParticipationPayment**TotalConsideration*6.75% Senior Notes Due 2018

92912E AC7 / US92912EAC75

C96715 AC8 / USC96715AC84

$1,600,000,000

$999.06

$30.00

$1,029.06* For each $1,000 principal amount of Notes, excluding any accrued and unpaid interest, which will be paid in addition to the Tender Offer Consideration or Total Consideration, as applicable.** For each $1,000 principal amount of Notes validly tendered on or prior to the Early Participation Date (as defined below).

The tender offer will expire at 11:59 p.m., New York City time on April 3, 2017, unless extended (such date and time, as the same may be extended, the "Expiration Date"). Holders of the Notes who validly tender their Notes pursuant to the offer by 5:00 p.m., New York City time, March 20, 2017, unless extended (such date and time, as the same may be extended, the "Early Participation Date"), will be paid, for each $1,000 principal amount of the Notes accepted for purchase, cash in an amount equal to $1,029.06 (the "Total Consideration"), which includes an early participation payment of $30.00 per $1,000 principal amount of Notes accepted for purchase (the "Early Participation Payment"). Holders who validly tender their Notes after the Early Participation Date but prior to the Expiration Date will be paid, for each $1,000 principal amount of the Notes accepted for purchase, cash in an amount equal to the Total Consideration minus the Early Participation Payment, or $999.06 (the "Tender Offer Consideration").

Notes that are tendered and accepted for purchase at or prior to the Early Participation Date will be settled only on the date that we refer to as the "Initial Payment Date," which will promptly follow the Early Participation Date. We currently expect the Initial Payment Date to be March 21, 2017. Notes that are tendered and accepted for purchase after the Early Participation Date but before the Expiration Date will be settled only on the date that we refer to as the "Final Payment Date," which will promptly follow the Expiration Date. We currently expect the Final Payment Date to be April 4, 2017. If no additional Notes are tendered after the Early Participation Date, or if the tender offer is fully subscribed as of the Early Participation Date, there will be no Final Payment Date.

In addition to the applicable Tender Offer Consideration or the Total Consideration, as the case may be, all Notes accepted for purchase will also receive accrued and unpaid interest on such Notes from the last interest payment date to, but not including, the Initial Payment Date or the Final Payment Date, as applicable, for the Notes.

Subject to the terms and conditions of the Offer to Purchase (and any amendments or supplements thereto), we will accept for payment only validly tendered Notes up to an aggregate principal amount of Notes equal to $1,100,000,000. If the aggregate principal amount of Notes validly tendered exceeds $1,100,000,000, proration will occur if we accept Notes for purchase pursuant to the Offer to Purchase. If the aggregate principal amount of Notes validly tendered as of the Early Participation Date is less than $1,100,000,000, Notes validly tendered after the Early Participation Date may be subject to proration, whereas Notes validly tendered at or prior to the Early Participation Date will not be subject to proration. If the aggregate principal amount of Notes validly tendered on or prior to the Early Participation Date exceeds $1,100,000,000, we will not accept any Notes for purchase after the Early Participation Date, there will be no Final Payment Date and Notes tendered on or prior to the Early Participation Date will be subject to proration.

The Company will not be required to purchase any of the Notes tendered unless certain conditions have been satisfied, including the receipt of the net proceeds of a private offering of debt securities in an amount sufficient to pay the aggregate consideration payable pursuant to the tender offer and the completion of a planned amendment to the Company's existing credit agreement, as detailed in the Offer to Purchase.

The Company reserves the right to increase the aggregate principal amount of Notes to be accepted at any time, subject to compliance with applicable law, which could result in purchasing a greater principal amount of Notes in the tender offer. There can be no assurance that we will exercise our right to increase the aggregate principal amount to be accepted.

Tendered Notes may be withdrawn at or prior to 5:00 p.m., New York City time, on March 20, 2017, unless extended.

This announcement is not an offer to purchase or a solicitation of an offer to sell with respect to any Notes. Any offer to purchase the Notes will be made by means of an Offer to Purchase and related letter of transmittal. No offer to purchase will be made in any jurisdiction in which such an offer to purchase would be unlawful.

In connection with the tender offer, Valeant has retained Barclays Capital Inc. and Goldman, Sachs & Co. as the Dealer Managers. Questions regarding the tender offer should be directed to Barclays Capital Inc. at (800) 438-3242 (toll free) or (212) 528-7581 or Goldman, Sachs & Co. at (800) 828-3182 (toll free) or (212) 902-6595. The complete terms and conditions of the offer are set forth in the Offer to Purchase and the related Letter of Transmittal, each dated March 7, 2017. Holders are urged to read those documents carefully. Requests for documents should be directed to D.F. King & Co, Inc., the Information Agent for the tender offer, at (866) 521-4424 (toll free) or (212) 269-5550 or email at vrx@dfking.com.

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. More information about Valeant can be found at www.valeant.com.

Caution Regarding Forward-Looking Information and "Safe Harbor" Statement This press release may contain forward-looking statements, including, but not limited to, the tender offer for the Notes, the details thereof and other expected effects of the tender offer for the 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, risks and uncertainties discussed in our most recent annual and quarterly reports 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 press release or to reflect actual outcomes, except as required by law.

Contact Information: Elif McDonald elif.mcdonald@valeant.com 514-856-3855 877-281-6642 (toll free)

Media: Renée Soto or Chris Kittredge/Jared Levy Sard Verbinnen & Co. 212-687-8080To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/valeant-announces-upsizing-of-cash-tender-offer-for-its-675-senior-notes-due-2018-300421774.html


'/>"/>
SOURCE Valeant Pharmaceuticals International, Inc.
Copyright©2017 PR Newswire.
All rights reserved


Related medicine technology :

1. Valeant Pharmaceuticals Announces Resignation of Dr. Laurence Paul from Valeants Board of Directors
2. Valeant Pharmaceuticals To Present At 34th Annual Goldman Sachs Global Healthcare Conference
3. Valeant Pharmaceuticals Announces 2013 Annual Meeting Results
4. Valeant Pharmaceuticals Announces Receipt Of U.S. FDA Complete Response Letter For Efinaconazole
5. Valeant Pharmaceuticals Announces Filing Of Preliminary Base Shelf Prospectus
6. Valeant Pharmaceuticals Announces Public Offering Of Common Shares
7. Valeant Pharmaceuticals Prices Public Offering Of Common Shares
8. Valeant Pharmaceuticals Announces Launch Of Private Offering Of Senior Notes
9. Valeant Pharmaceuticals Announces Exercise Of Over-Allotment Option
10. Valeant Pharmaceuticals Announces Closing of Public Offering of Common Shares
11. Valeant Pharmaceuticals To Announce 2013 Second Quarter Results On August 7, 2013
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/17/2017)... , August 17, 2017 DarioHealth ... Company with mobile health and big data solutions, ... agreements with domestic and non-U.S. investors for the ... and shares of the Company,s newly designated Series ... offerings. The Company expects to conduct a closing ...
(Date:8/15/2017)... , Aug. 15, 2017 Diplomat Pharmacy, ... to Michigan residents. ... Flint retail pharmacy, G-3320 Beecher Road. ... by the Food and Drug Administration, is intended to ... drowsiness, slowed breathing, and loss of consciousness. The medication ...
(Date:8/15/2017)... 15, 2017  AOTI Inc. announced today that its fully owned ... recently opened a New York City Office in Yonkers, ... unique Topical Wound Oxygen (TWO 2 ) homecare therapy. This new ... for Health Care (ACHC) under the company,s DMEPOS accreditation for Home/Durable ... Advanced ...
Breaking Medicine Technology:
(Date:8/22/2017)... ... ... of the past six years, Lightning Labels has sent out a call for users of ... variety and creativity of their designs. Submissions this year were open from May 18 to ... announce the winners of the sixth annual Photo Contest, along with the prizes they've received:, ...
(Date:8/22/2017)... ... ... Star Glass is new to the Texas market, but is proudly managed by widely recognized ... and models, in Grand Prairie, TX, located in the center of the DFW Metroplex, the ... business for the past 40 years with 32 convenient locations in Texas, Nevada and California ...
(Date:8/22/2017)... ... August 22, 2017 , ... “Without Love’s Beauty and ... and the struggles faced while hoping for a better life. “Without Love’s Beauty ... Von Bernewitz, who spent 13 years working with deprived/neglected adolescents and almost 20 ...
(Date:8/22/2017)... ... August 22, 2017 , ... John Stewart ... and Managing Member for t4 Leadership Development & Consulting. He has spent his ... of “success”: physician leadership development, servant leadership, data driven process improvement, and supportive ...
(Date:8/22/2017)... ... 22, 2017 , ... Although Labor Day is not as popular for fireworks ... weekend displays, and numerous households celebrate the unofficial end of summer with backyard fireworks ... pets. , Kris Zambo, owner of Dynamite Fireworks in Hammond, Indiana, ...
Breaking Medicine News(10 mins):