ANNOUNCEMENT 28 Mar 2017

In 2017 Export Development Bank Canada announced financing for Canadian suppliers.

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 28 Mar 2017 | Removal date: open ended
Still in force

State loan

On 28 March 2017, Export Development Bank Canada (EDC) announced financing for Valeant Pharmaceuticals International, Inc. The stated purpose of the transaction is support for working capital/general corporate purposes to Valeant Pharmaceuticals International, Inc. and its operations within Canada.

EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$50-100 million. Taking the lowest possible amount, in this case, Can.$50 million (approx. U.S.$37.36 million), is our conservative estimate of the financing received.

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.

AFFECTED SECTORS