Bausch Health to pay down $76 million more senior secured term loans

By Susanna Moon

Chicago, Dec. 19 – Bausch Health Cos. Inc. said it plans to pay down another $76 million of its senior secured term loans the week of Dec. 24.

The paydown will be funded using cash from operations, according to a company announcement.

After the payment, the company said it “will have eliminated all mandatory amortization for the first quarter of 2019.”

Bausch said it has also redeemed or called $325 million of debt in the fourth quarter of 2018, bringing total debt repayment to about $400 million for the quarter.

“As we continue to transform the company, we remain focused on addressing our debt, and due to continued strong cash flow from operations, we are able to further repay our debt by approximately $400 million in the fourth quarter,” Joseph C. Papa, chairman and chief executive officer of Bausch Health, said in a statement.

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

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