Valeant to pay down additional $200 million of senior secured loans

By Sarah Lizee

Olympia, Wash., Jan. 25 – Valeant Pharmaceuticals International, Inc. intends to pay down an additional $200 million of its senior secured term loans using cash on hand, according to a press release.

When the debt is repaid next week, Valeant will have reduced its debt by more than $6.7 billion since the end of the first quarter of 2016, and the company's total long-term debt will be about $25.5 billion.

“We are able to further reduce our debt due to strong operational cash flow,” Joseph C. Papa, chairman and chief executive officer of Valeant, said in the release.

“Though we remain focused on reducing debt, we are also continuing to invest in our core businesses where we can both drive growth and make an impact on patients globally.”

The issuer is a Laval, Quebec-based specialty pharmaceutical company.

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