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Valeant wins new 10-K deadline from creditors, but gives up dealmaking freedom in return
- Publisher：
- Publication：2016/4/13
Valeant Pharmaceuticals ($VRX) snagged creditor approval to extend its annual report filing deadline into May in return for some concessions on its debt terms. The company had been in danger of default after a series of accounting missteps forced it to delay quarterly and annual regulatory filings. Among the new provisions is a $250 million cap on new acquisitions until Valeant gets its leverage ratio down to 1.0 from 4.5, the company said in a Securities and Exchange Commission filing. Valeant also agreed to use the proceeds of any asset sales to pay off debt.