March 30 (Reuters) - Valeant Pharmaceuticals (NYSE:VRX) International
Inc VRX.TO VRX.N said it had asked its lenders to agree to
waive a condition of its credit facility that would put it in
breach of covenants if the company did not file its annual
report by April 29, as planned.
The company said earlier in the month that a delay in
filing its annual report would put it at risk of a default on
its $30 billion in debt.
Valeant on Wednesday said it was seeking to extend the
deadline for filing its annual report to May 31.
"The company is comfortable with its current liquidity
position and cash flow generation for the rest of the year, and
remains well positioned to meet its obligations," Valeant said.
The proposed waiver must be approved by lenders holding more
than 50 percent of the company's loans in principal amount,
Valeant said.