Valeant Gets Default Notice From Bondholders on Delayed 10-Q
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Valeant Pharmaceuticals International Inc. received a notice of default from some of its bondholders because of a delay in filing its first-quarter financial results, the company said Thursday.
The notice from holders of the company’s $1 billion of 5.5 percent notes that mature in 2023 started the clock on a 60-day grace period, giving Valeant until July 18 before the bondholders can demand immediate repayment if the company hasn’t filed the statement, according to a regulatory filing Friday.