March 6, 2017 / 11:48 AM / 5 months ago

BRIEF-Valeant to seek refinancing and amendment of credit agreement

March 6 (Reuters) - Valeant Pharmaceuticals International Inc

* Valeant completes approximately $1.1 billion pay down of senior secured term loans from divestitures; to seek refinancing and amendment of credit agreement

* Valeant - refinancing is expected to have effect of extending maturity date of revolving facility and term b loans that mature prior to 2022

* Valeant - refinancing is expected to have effect of repaying all of outstanding term a loans, removing maintenance covenants from term b loans

* Valeant -seeking to refinance, amend co's existing credit agreement borrow new term b loans under credit agreement and issue new secured debt securities

* Valeant - refinancing to have effect of removing maintenance covenants from term b loans, modifying maintenance covenants under revolving facility

* Valeant - refinancing is subject to market and other conditions and is anticipated to close in q1 of 2017 Source text for Eikon: Further company coverage:

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