April 7 (Reuters) - Valeant Pharmaceuticals (NYSE:VRX) International
Inc VRX.TO :
* Valeant Pharmaceuticals receives lender consent for credit
facility amendment
* Intends to file 10-K on or before April 29, 2016 , as
previously disclosed
* Intends to file 10-K on or before April 29, 2016 , as
previously disclosed
* Company expects to close amendment and waiver next week
* Expects to close amendment and waiver next week
* Says pursuant to approved waiver, deadline for filing
company's form 10-K will be extended to May 31, 2016
* Waiver and amendment were approved by lenders holding more
than 50 pct of company's loans in principal amount
* Says deadline for filing its form 10-Q for quarter ended
March 31, 2016 will be extended to July 31 , 2016
* The approved waiver also waives cross-default to Valeant's
indentures that arose when form 10-K was not filed on March 15,
2016
* Valeant Pharmaceuticals says comfortable with its current
liquidity position and cash flow generation for rest of year
* Is comfortable with its current liquidity position and
cash flow generation for rest of year
* Waiver and amendment were approved by lenders holding more
than 50 pct of company's loans in principal amount
* In addition to waivers, amendment will modify interest
coverage maintenance covenant, certain financial definitions
which provide additional cushion in its financial covenant
* Terms of amendment restrict co's ability to make certain
acquisitions and other investments, to pay dividends and other
restricted payments
* While restrictions are in place, co also required to apply
substantially all net asset sale proceeds to prepay its term
loans
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