RE:Valeant Pays Down $811 Million of Senior Secured Term Loans From the PR. "We are continuing to deliver on our commitments as we transform Valeant. With the proceeds from the sale of Dendreon, we have reduced our total debt by an additional $811 million and met all mandatory amortization requirements through 2019," said Joseph C. Papa, chairman and CEO, Valeant. The Company continues to reiterate its expectation to pay down $5 billion in debt from divestiture proceeds and free cash flow within 18 months of August 2016.