Brexit impact on cxr way overblown by the markets From the news release:
The pound sterling-denominated free cash flow from Concordia International's 2016 operations is naturally hedged in 2016 by its pound sterling-denominated liabilities. In 2016, these payment obligations include £5 million of principal and £30 million of interest payments in respect of the £500 million term loan, an earn-out of £144 million payable to the former owners of AMCo, and approximately £38 million related to purchase consideration liabilities associated with AMCo's prior acquisitions, subject to certain product performance metrics being achieved.
The depreciation of the pound sterling relative to the U.S. dollar does not impact the Company's ability to service its debt and meet its earn-out obligations in 2016. Beyond 2016, the Company will monitor its hedging needs.
"Operationally, our Concordia International segment is continuing to perform as expected," continued Concordia Chairman and Chief Executive Officer Mark Thompson.