BUZZ-Valeant Pharmaceuticals International Inc: Lenders offer relief

Thu Apr 7, 2016 8:01am EDT
 
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** Canadian drugmaker's U.S.-listed shares up 6.5 pct at $36.40 premarket after closing up 19 pct on Wednesday

** Stock one of the most heavily traded in premarket

** Valeant says it has obtained approval from its lenders for an amendment and waiver to its credit facility, giving the embattled drugmaker an extra month to file its annual report

** Valeant said last week that it had asked its lenders for another month, seeking to reduce the risk of a default on its $30 billion debt if it missed the April 29 deadline

** On Thursday, company reiterates that it intends to file annual report on or before April 29

** Billionaire activist investor William Ackman said the embattled drugmaker's annual report will be filed soon and that its search for a new CEO is moving forward

** Up to Wednesday's close, stock had fallen 67 pct this year