Ms. Laurie Little reports

VALEANT PHARMACEUTICALS ANNOUNCES LAUNCH OF PRIVATE OFFERING OF SENIOR NOTES

VPII Escrow Corp., a newly formed wholly owned Canadian subsidiary of Valeant Pharmaceuticals International Inc., has launched its offer of approximately $3.2-billion aggregate principal amount of senior unsecured notes. The notes will be due in 2021 and in 2023, with final tranching determined at pricing.

The company intends to use the net proceeds from the offering, together with proceeds from its previously announced public offering of common shares and other debt financing, to finance: (i) the consideration of its previously disclosed acquisition of Bausch + Lomb Holdings Inc., (ii) the fees and expenses incurred in connection with the merger; and (iii) the repayment or retirement of B+L's outstanding debt.

We seek Safe Harbor.