Valeant Pharmaceuticals International Inc. said early Thursday that it plans to borrow an additional $3.815 billion of Term B loans and issue $750 million of secured debt securities and $750 million of unsecured debt securities. The move is expected to extend the maturity date of up to $1.2 billion to five years from the closing date, replace currently outstanding Term B loans with new ones that will mature seven years from the closing date and lower interest rates. Valeant will use proceeds from the new loans and debt securities to refinance outstanding Term B loans and redeem sets of senior notes due in 202, 2021 and 2022. The transactions are expected to close in the second quarter. Valeant shares have surged 14% over the last three months, compared with a 3% rise in the S&P 500 and a 1.5% rise in the Dow Jones Industrial Average