Investors still hot for Valeant debt despite looser terms

Valeant
By Sam Kerr
09 Mar 2017

Canadian drug maker Valeant Pharmaceuticals is hoping to complete a large debt refinancing which will extend maturities and loosen covenants, though leveraged loan investors are still likely to lap up the new debt, sources said.

Under the terms of the new financing, the company will repay $1.7bn of term A loans, as well as a $1.6bn of senior notes maturing in 2018.

Terms are expected to be finalised on Thursday, and CLO and leveraged loan market observers said they expect it to go ...

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