Bausch to prepay amortization for 2022 under its existing term loans

By Sarah Lizee

Olympia, Wash., May 12 – Bausch Health Cos., Inc. plans to prepay mandatory amortization for 2022 under its existing term loans using proceeds from an offering of $1.5 billion of 6¼% senior notes due 2029 and cash on hand, according to a press release.

Proceeds will also be used to fund the company’s conditional redemption of its existing 6½% senior secured notes due 2022.

With this transaction there will be no debt maturities or mandatory amortization payments due until 2023, the company said.

The Laval, Quebec-based company makes pharmaceuticals, medical devices and over-the-counter products, primarily for eye health, gastroenterology and dermatology.

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