Bausch Health pays down $107 million of term loan, revolver debt

By Sarah Lizee

Olympia, Wash., Sept. 11 – Bausch Health Cos. Inc. paid down an additional $57 million of its senior secured term loans and $50 million of its revolver borrowings using cash on hand, according to a press release.

As a result, the company has eliminated all mandatory amortization for the remainder of 2018.

“We are able to further reduce our debt and eliminate all remaining mandatory amortization for 2018 due to ongoing strong cash flow from operations,” chairman and chief executive officer Joseph C. Papa said in the release.

“We continue to remain committed to reducing our debt while also investing in the company’s core businesses that drive future growth.”

Bausch said it paid down $132 million of debt earlier in the third quarter of 2018. Together, the transactions bring the company’s total debt repayment in the quarter to nearly $240 million.

Bausch Health is a Laval, Quebec-based specialty pharmaceutical company. The company was formerly known as Valeant Pharmaceuticals International, Inc.

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