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Bausch Health Announces Final Results and Expiration of Exchange Offers
LAVAL, QC / ACCESS Newswire / December 23, 2025 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:...
About this update from Bausch Health Companies Inc.
[{"type":"text","content":"Bausch Health Announces Final Results and Expiration of Exchange OffersLAVAL, QC / ACCESS Newswire / December 23, 2025 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) (the \"Company\") and its subsidiary 1261229 B.C. Ltd. (the \"Issuer\" and, together with the Company, the \"Offerors\") today announced the final results and expiration of their previously announced offers to exchange the Company's outstanding 4.875% Senior Secured Notes due 2028 (the \"4.875% Notes\") and 11.00% Senior Secured Notes due 2028 (the \"11.00% Notes\" and together with the 4.875% Notes, the \"Existing Senior Secured Notes\") for up to $1.6 billion aggregate principal amount of the Issuer's 10.00% Senior Secured Notes due 2032 (the \"New Notes\" and, such offers, the \"Offers\") , in each case, pursuant to the terms described in a confidential exchange offer memorandum dated November 24, 2025 (the \"Exchange Offer Memorandum\").The Exchange Offers expired at 5:00 p.m., New York City time, on December 23, 2025 (the \"Expiration Time\"). As reported by D.F. King & Co., Inc., the exchange agent and information agent for the Offers, as of the Expiration Time, an aggregate principal amount of $2.7 billion of Existing Senior Secured Notes had been validly tendered (and not validly withdrawn) in the Offers, as set forth in the table below.Series of Existing Senior Secured NotesCUSIP Number(1)(Rule 144A/Reg S)Principal Amount OutstandingTotal Consideration(2)(3)Principal Amount TenderedPrincipal Amount AcceptedAggregate New Notes IssuedBHC 11.00% Senior Secured Notes due 2028071734AQ0 / C07885AL7$1,774,067,000$1,020.00$1,519,477,000$885,806,000$903,359,000BHC 4.875% Senior Secured Notes due 2028071734AN7 /C07885AJ2$1,600,000,000$873.84$1,170,539,000$797,431,000$696,641,000(1) No representation is made as to the correctness or accuracy of the CUSIP numbers listed in this press release or printed on the Existing Senior Secured Notes. They are provided solely for convenience.(2) Consideration in the form of principal amount of the New Notes, per $1,000 principal amount of Existing Senior Secured Notes that are validly tendered and accepted for exchange.(3) The Total Consideration of $1,020.00 per $1,000 principal amount of 11.00% Notes excludes accrued interest paid in cash as provided in the Exchange Offer Memorandum. The Total Consideration of $873.84 pe...