BUZZ-Valeant Pharmaceuticals: Gets notice of default from bondholders

Wed Apr 13, 2016 7:09am EDT
 
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** Canadian drugmaker's U.S.-listed shares down 2.5 pct at $31.50

** Says got a notice of default from bondholders as a result of a delay filing its annual report

** Centerbridge Partners LP issued the notice, but it is not expected to lead to a default, people familiar with the matter told Reuters

** Valeant said has until June 11 to make the filing, under its bond agreements, but reiterated its intention to file it on or before April 29

** "The noteholders may have just been attempting to protect themselves from any further filing delays," Reorg Research Senior Covenant Analyst Saish Setty says

** Up to Tuesday's close, stock had fallen 68 pct this year