Valeant planning note deal

Valeant Pharmaceuticals International (NYSE:VRX) plans to raise $1 billion in an offering of senior unsecured notes. Valeant also plans to secure senior credit facilities of $1.9 billion. The company plans to use a portion of the proceeds from the notes and funds borrowed under the credit facility to refinance its 7.625% and 8.375% senior unsecured notes due 2020 and 2016, respectively, and pay a one-time special cash dividend of $16.77 per share to shareholders. The note offering is expected to start on or about Sept. 15. ...