Valeant Gets Loan Holders Agree to Amend Terms of Debt BY Dow Jones & Company, Inc. ? 4:31 PM ET 04/06/2016 Valeant Pharmaceuticals International Inc. ( VRX Loading... Loading... ) on Wednesday secured a commitment from a majority of its loan holders to amend terms of its debt, according to a person familiar with the discussions. The company and its bankers were able to convince more than half of the holders of its loans, by principal amount, to push back regulatory filing deadlines and loosen financial conditions on the loans. Valeant agreed to pay a fee of $50,000 per $10 million of loans to lenders for the amendment and to boost interest rates on the debt by 1 percentage point, though the rate could decline if Valeant achieves certain financial metrics, the person said. The company has been negotiating with the loan holders to avoid a technical default. Valeant announced last month that it might miss a deadline with lenders to file its annual report, or 10-K.
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