• Valeant Pharmaceuticals (NYSE:
VRX)
prices its $1.5B (up from $1B) offering of 9.000% senior notes due 2025 at 98.611%. Net proceeds will be used to repurchase $1.5B of its outstandings 7.000% senior notes due 2020, 6.375% senior notes due 2020 and up to $200M of its 5.375% senior notes due 2020.
• The notes will be guaranteed by each of Valeant's subsidiaries that are guarantors under its credit agreement and existing senior notes.
• Closing date is December 18