MONTREAL, Sept. 14, 2012 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today
announced plans to syndicate an additional $1,000,000,000 of incremental term B loans under
its existing senior secured credit facilities. The
incremental term B loans will be used to provide a portion of the
financing for Valeant's anticipated acquisition of all of the
outstanding common stock of Medicis Pharmaceutical Corporation
(NYSE: MRX). The incremental term B loans will have a seven year
term and are expected to have terms that are substantially similar
to the Company's existing Term Loan B facility. The incremental
term B loans are expected to close in the first half of 2013,
concurrent with the closing of the transaction. The Company also
intends, subject to market and other conditions, to raise
approximately $500,000,000 of
unsecured debt for general corporate purposes, including
acquisitions.
About Valeant Pharmaceuticals International, Inc.
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, neurology and branded
generics. More information about Valeant Pharmaceuticals
International, Inc. can be found at www.valeant.com.
Forward-looking Statements
This press release may contain forward-looking statements.
Forward-looking statements may be identified by the use of
the words "anticipates," "expects," "intends," "plans," "should,"
"could," "would," "may," "will," "believes," "estimates,"
"potential," or "continue" and variations or similar expressions.
These statements which include statements regarding our plans to
syndicate incremental term loans and the proposed terms thereof and
our expectation as to when and if the incremental term loan
facility will close, 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 the Company's most recent annual or
quarterly report filed with the Securities and Exchange Commission
("SEC") and risks and uncertainties as detailed from time to time
in the Company's filings with the SEC and the Canadian Securities
Administrators ("CSA"), which factors are incorporated herein by
reference. Readers are cautioned not to place undue reliance on any
of these forward-looking statements. Valeant undertakes 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.
Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
(Logo:
http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)
SOURCE Valeant Pharmaceuticals International, Inc.