On October 20, 2011, multinational specialty pharmaceutical company Valeant Pharmaceuticals International, Inc. (“Valeant”), as borrower, and certain subsidiaries of Valeant, as guarantors, entered into the Second Amended and Restated Credit and Guaranty Agreement (the “Credit Agreement”). The Credit Agreement provides for a $275 million revolving credit facility, including a sublimit for the issuance of standby and commercial letters of credit and a sublimit for swing line loans, and a $1.725 billion senior secured term loan A facility, comprised of a $1.225 billion Term A loan and a $500 million delayed draw term loan. Goldman Sachs Lending Partners LLC (“GSLP”) and J.P. Morgan Securities LLC acted as Joint Lead Arrangers and Joint Bookrunners. JPMorgan Chase Bank, N.A. acted as Syndication Agent and Issuing Bank, GSLP acted as Administrative Agent and Collateral Agent.
Valeant was represented in Canada by Norton Rose OR LLP, with a team that included Gino Martel, Peter Wiazowski, Martin Theriault, Suzanna Lobo and Aimée Halfyard (Banking and Corporate) and Derek Chiasson (Tax).