LAVAL, Quebec, April 1, 2015 /CNW/ -- Salix
Pharmaceuticals, Ltd. ("Salix"), a wholly owned subsidiary of
Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX:VRX),
today announced that it will redeem all of the outstanding
$750,000,000 aggregate principal
amount of its 6.00% Senior Notes due 2021, CUSIP Nos. 795435AF3,
U8639TAA3 (the "Notes") pursuant to two redemptions. On
May 1, 2015, Salix will redeem
$262,500,000 aggregate principal
amount of the Notes, and on May 4,
2015, Salix will redeem the remaining $487,500,000 aggregate principal amount of the
Notes.
On April 1, 2015, copies of the
irrevocable notices of redemption with respect to the Notes were
mailed to record holders of the Notes by U.S. Bank National
Association, 214 N. Tryon Street, 27th Floor,
Charlotte, NC 28202, as trustee
under the indenture governing the Notes. In connection with the
mailing of the notices of redemption, Salix has satisfied and
discharged the indenture governing the Notes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Valeant
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a
multinational specialty pharmaceutical company that develops,
manufactures and markets a broad range of pharmaceutical products
primarily in the areas of dermatology, eye health, neurology, and
branded generics. More information about Valeant Pharmaceuticals
International, Inc. can be found at www.valeant.com.
Caution Regarding Forward-Looking Information and "Safe
Harbor" Statement
This press release may contain forward-looking statements,
including, but not limited to, the redemption of the Notes.
Forward-looking statements may generally be identified by the use
of the words "anticipates," "expects," "intends," "plans,"
"should," "could," "would," "may," "will," "believes," "estimates,"
"potential," "target," or "continue" and variations or similar
expressions. These statements are based upon the current
expectations and beliefs of management and are subject to certain
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
These risks and uncertainties include, but are not limited to,
risks and uncertainties discussed in our most recent annual and
quarterly reports and detailed from time to time in our other
filings with the Securities and Exchange Commission and the
Canadian Securities Administrators, which risks and uncertainties
are incorporated herein by reference. Readers are cautioned not to
place undue reliance on any of these forward-looking statements.
These forward-looking statements speak only as of the date hereof.
We undertake no obligation to update any of these forward-looking
statements to reflect events or circumstances after the date of
this press release or to reflect actual outcomes, except as
required by law.
Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
Media:
Renee E. Soto/Meghan Gavigan
Sard Verbinnen & Co.
212-687-8080
rsoto@sardverb.com / mgavigan@sardverb.com
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SOURCE Valeant Pharmaceuticals International, Inc.