| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for Valeant Pharmaceuticals International Inc. > News item |
Valeant again triggers note defaults for holdup in filing financials
By Susanna Moon
Chicago, June 3 – Valeant Pharmaceuticals International, Inc. said it received a notice of default from the trustee of two of its senior note indentures as the result of waiting to file its 10-Q with the Securities and Exchange Commission for the period ended March 31.
Under the note terms, Valeant has 60 days from notice to file the quarterly report and cure the default, which the company expects to do by June 10, according to a company press release.
The notice of default does not result in the acceleration of any of the company’s debt, the company noted.
As announced April 25, Valeant also received default notices on senior notes due between 2020 and 2022 for delaying to file its 2015 10-K with the SEC.
The default notices were for the company’s 5 3/8% senior notes due 2020, 6 3/8% senior notes due 2020, 7½% senior notes due 2021 and 7¼% senior notes due 2022. The 6 3/8% notes and 7¼% notes were issued by subsidiary Valeant Pharmaceuticals International.
The company had expected to file the annual report by April 29.
Valeant, based in Laval, Quebec, develops, manufactures and markets pharmaceuticals.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.