May 1, 2020 / 4:23 PM / a month ago

BRIEF-Vivus says Entered Into Agreement With Trustee And Holder Of About $170 Million Of Co's Outstanding 4.50% Convertible Senior Notes Due May 1, 2020

May 1 (Reuters) - Vivus Inc:

* VIVUS-ON APRIL 29, ENTERED INTO AGREEMENT WITH TRUSTEE AND HOLDER OF ABOUT $170 MILLION OF CO’S OUTSTANDING 4.50% CONVERTIBLE SENIOR NOTES DUE MAY 1, 2020

* VIVUS - NOTEHOLDER AGREED TO GRANT TO CO GRACE PERIOD WITH RESPECT TO PAYMENT OF PRINCIPAL AMOUNT OF CONVERTIBLE NOTES PAYABLE TO NOTEHOLDER ON MAY 1

* VIVUS INC - CONVERTIBLE NOTES WERE ISSUED PURSUANT TO AN INDENTURE DATED MAY 21, 2013

* VIVUS INC - AS OF DEC 31, 2019, HAD A TOTAL OF $241.7 MILLION OF OUTSTANDING DEBT, $181.4 MILLION OF WHICH WAS DUE ON MAY 1, 2020

* VIVUS INC - CO DID NOT AND DO NOT HAVE SUFFICIENT FINANCIAL RESOURCES OR CASH FLOWS FROM BUSINESS TO PAY SUBSTANTIAL DEBT

* VIVUS - ACTIVELY PURSUING STRATEGIES TO ADDRESS INDEBTEDNESS, INCLUDING TRANSACTIONS WITH EXISTING DEBTHOLDERS THAT RESTRUCTURE OR REFINANCE DEBT

* VIVUS INC - CO MAY NEED TO SEEK RELIEF UNDER U.S. BANKRUPTCY CODE OR OTHERWISE COMPLETE RESTRUCTURING TRANSACTION TO ADDRESS UPCOMING DEBT MATURITY Source text - bit.ly/2SsJzON Further company coverage:

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