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Bausch Health Announces Conditional Redemption of Senior Notes
LAVAL, QC / ACCESS Newswire / March 21, 2025 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC...
About this update from Bausch Health Companies Inc.
[{"type":"text","content":"Bausch Health Announces Conditional Redemption of Senior NotesLAVAL, QC / ACCESS Newswire / March 21, 2025 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) (the \"Company\" or \"Bausch Health\") today announced that (i) it has delivered conditional notices of redemption for all of its outstanding 5.500% Senior Secured Notes due 2025, 9.000% Senior Notes due 2025, 5.750% Senior Secured Notes due 2027 and 6.125% Senior Secured Notes due 2027 (collectively, the \"BHC Notes\") and (ii) 1375209 B.C. Ltd., the Company's indirect wholly-owned subsidiary (\"HoldCo\"), has delivered a conditional notice of redemption for all of its outstanding 9.000% Senior Secured Notes due 2028 (collectively with the BHC Notes, the \"Notes\"). Each of the redemptions is conditioned upon the closing of debt financing transactions satisfactory to the Company (the \"Financing Transactions\"). The Company expects to satisfy this condition with its recently announced financing transaction, which includes (i) $4,000 million aggregate principal amount of new senior secured notes due 2032 and (ii) $3,400 million in borrowings under a new 5.5-year senior secured term loan B facility.A copy of each conditional notice of redemption was issued to the record holders of each series of Notes. Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company.The obligation to redeem the Notes is conditioned upon the consummation of the Financing Transactions on or before each of the applicable redemption dates (which redemption dates may be delayed in the Company's sole discretion if this condition is not satisfied, pursuant to the terms of the indentures governing the Notes). Concurrently with the consummation of the Financing Transactions, the Company or HoldCo, as applicable, intends to discharge the applicable indentures governing each of the Notes to the extent any such Notes are not redeemed on the date on which the Financing Transactions are consummated. This press release does not constitute a notice of redemption of the Notes.About Bausch HealthBausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) is a global, diversified pharmaceutical company enriching lives through our relentless drive to deliver better healt...