Bausch Health sets redemption price for 6 1/8% senior notes

By Mary-Katherine Stinson

Lexington, Ky., April 25 – Bausch Health Cos. Inc. will redeem its 6 1/8% senior notes due 2025 at 101.021, according to an 8-K filing with the Securities and Exchange Commission Monday.

Accrued interest will also be paid.

As previously reported, the notes are now scheduled to be redeemed on May 16, after being delayed for a third time.

The company originally issued conditional notices of redemption for the series of notes on Jan.18.

On Feb. 10, the company notified holders of its election to delay the redemption date until March 15 from Feb. 17. On March 14, the company again notified noteholders of its election to further delay the redemption date until April 19.

The redemptions have been delayed each time as the conditions to the redemption were not satisfied or waived prior to the redemption dates.

The company again stated it will continue to monitor market conditions and that the redemption date may be further delayed until the initial public offering of Bausch + Lomb Corp. and the refinancing of its existing credit agreement are completed. At that time the company expects the previously announced conditions to the redemptions will be satisfied or waived.

The company also had announced a redemption for its 9% senior notes due 2025.

Bausch Health is a Laval, Quebec-based health care company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.