VALEANT CEO SAID.. THEY PLAN TO REDUCE DEBT DOWN to $15-$20B Yesterday...
LAVAL, Quebec, May 1, 2017 /PRNewswire via COMTEX News Network/ -- The company has now reduced approximately $3.6 billion of debt from the end of first quarter 2016
Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant") today announced that, following the earlier-than-expected closing of the sale of three skincare brands to L'Oral and the closing of the divestiture of a manufacturing facility in Brazil, it has reduced its senior secured terms loans by approximately an additional $220 million as of Monday May 1, 2017. In aggregate, the company has now reduced approximately $3.6 billion of debt from the end of first quarter 2016.
The company continues to advance toward its expectation of paying down $5 billion in debt from divestiture proceeds and free cash flow within 18 months of August 2016.
Today...
Valeant CEO said they have plan to reduce debt down to $15-$20B.... Shorts are doom doom doom