Aug 18 (Reuters) - Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO :
* Valeant Pharmaceuticals receives lender consent for credit facility amendment
* Amendment will reduce interest coverage maintenance covenant to 2.0x, providing additional headroom
* Amendment will permit issuance of secured notes with shorter maturities to repay term loans
* Amendment provides additional flexibility to sell assets
* Amendment will permit incurrence of other debt to repay term loans
* Amendment will provide additional flexibility to sell assets
* Valeant Pharmaceuticals International Inc says amendment provides with additional flexibility
* Also agreed to increase each of applicable interest rate margins on its credit facility by 0.50%
* To pay amendment fee equal to 0.25% of principal amount of each consenting lender's outstanding loans, commitments under credit facility
* Amendment also provides to focus on executing strategic plan, developing our pipeline and improving patients' lives
* Company expects to close amendment next week Source text for Eikon: ID:nCNWmlc9wa Further company coverage: VRX.TO