August 18, 2016 / 12:17 PM / a year ago

BRIEF-Valeant Pharmaceuticals receives lender consent for credit facility amendment

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Aug 18 (Reuters) - Valeant Pharmaceuticals International Inc :

* Valeant Pharmaceuticals receives lender consent for credit facility amendment

* Amendment will reduce interest coverage maintenance covenant to 2.0x, providing additional headroom

* Amendment will permit issuance of secured notes with shorter maturities to repay term loans

* Amendment provides additional flexibility to sell assets

* Amendment will permit incurrence of other debt to repay term loans

* Amendment will provide additional flexibility to sell assets

* Valeant Pharmaceuticals International Inc says amendment provides with additional flexibility

* Also agreed to increase each of applicable interest rate margins on its credit facility by 0.50%

* To pay amendment fee equal to 0.25% of principal amount of each consenting lender's outstanding loans, commitments under credit facility

* Amendment also provides to focus on executing strategic plan, developing our pipeline and improving patients' lives

* Company expects to close amendment next week Source text for Eikon: Further company coverage:

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