Valeant Launches $1 Billion Private Senior Notes Offering

October 6, 2017: By Joan McKenna

Valeant PharmaceuticalsValeant Pharmaceuticals International said Oct. 2 that it has launched a $1 billion private debt offering of 5.5 percent senior secured notes due in 2025. The offering is expected to close Oct. 17.

The proceeds will be used to buy back $1 billion in aggregate principle of outstanding notes (7 percent, 6.375 percent, and 5.375 percent notes) due in 2020.

The Canadian company has said this year that it expects to exceed its goal of paying down more than $5 billion of debt by February 2018.

Valeant has been selling noncore assets to lower its debt, which stood at more than $28 billion in August.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

Imprimis Offers Compounded Alternative to Restasis for Dry Eye

US District Court Invalidates Four Restasis Patents

BioTime Prices $25 Million Public Offering of Common Stock

Gemini Completes $42.5 Million Series A Financing for Dry AMD Treatment

BIOPHYTIS Raises €10.4 Million to Develop Anti-Aging Drugs, One for Dry AMD

Amydis Receives $530 Thousand NIH Award to Advance Ophthalmic Diagnostic Probes

Realm Announces Completion of $26 million Private Placement

Sight Sciences Secures $10 Million in Oversubscribed Series C Financing

Aerpio Names Stephen Hoffman CEO; Founder Joseph Gardner Remains President

FDA Advisory Panel Recommends Aerie’s Rhopressa for Glaucoma Patients

FDA Panel Unanimously Backs Spark’s Luxturna as Retinal Gene Therapy

PanOptica Secures $11 Million to Advance Topical Anti-VEGF Eye Drop for Neovascular AMD

Nicox and pSivida to Collaborate to Develop a Sustained Release Drug to Lower IOP

Azura Nets $16 Million in Series B Funding for Dry Eye Treatment

Alcon’s AcrySof Intraocular Lens Reaches 100 Million Implants

Notal Vision’s ForeseeHome Reaches Milestone of 3 Million Tests

FDA to Review Spark’s Retinal Gene Therapy Candidate Oct. 12

Alcon’s AutonoMe IOL Injector Gains CE Mark Approval

Shire Sues Allergan, Claiming Bundling Tactics Block Restasis Competitors

Allergan Decries ‘Unfair’ Patent Challenge Process as US House Launches Probe of Tribe Deal

Coming soon

2017 Refractive Surgery Report: A Global Market Analysis for 2016 to 2022