Bausch Health to reduce debt by $200 million via paydown, redemption

By Sarah Lizee

Olympia, Wash., Sept. 3 – Bausch Health Cos. Inc. announced it will reduce debt by about $200 million through the prepayment of senior secured term loans and the redemption of outstanding senior notes, using cash flow from operations.

Bausch Health put in notice to prepay about $100 million of its senior secured term loans this week. After this prepayment, the company will have no further mandatory amortization payments until 2021.

Additionally, Bausch Health will redeem $100 million of its outstanding 5 7/8% senior notes due 2023 on Oct. 3.

Based in Laval, Quebec, Bausch develops, manufactures and markets pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology.

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