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Valeant Said to Offer Lenders More Money to Relax Loan Terms

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Valeant Pharmaceuticals International Inc. is offering its lenders a one-time fee and extra interest on its loans in exchange for waiving a default caused by its delayed earnings filing and loosening some restrictions on its debt load.

The company is offering creditors a 50 basis-point fee and has also proposed to boost the interest on the term loans it has outstanding by 0.5 percentage point, according to two people with knowledge of the matter, who asked not to be identified as the information isn’t public.