Valeant deal survives Endo surprise

摘要

Pharmaceuticals firm endo stunned the market with a last-minute bid for salix last Wednesday, but the surprise turn of events did little to dent demand for a multi-billion dollar junk bond issue backing rival valeant's bid. Orders for the Canadian pharmaceutical giant's bigger than expected US$10.1bn-equivalent deal - the second-largest junk bond offering in history - reached an impressive US$29bn, as investors piled into the deal despite the sudden uncertainty.