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Valeant Pharmaceuticals to pay down revolver debt with notes proceeds
By Sara Rosenberg
New York, Jan. 15 – Valeant Pharmaceuticals International Inc. plans to repay all or a portion of the amounts drawn under its revolving credit facility using proceeds from a $1 billion senior notes offering, according to a market source.
Remaining proceeds will be used to redeem 6 7/8% senior notes due 2018 and for general corporate purposes, including acquisitions.
Valeant is a specialty pharmaceutical company with U.S. headquarters in Bridgewater, N.J., and international headquarters in Laval, Quebec.
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