Benzinga | Feb 26, 2021 07:13AM EST

Bausch Health To Reduce Debt By $100M Using Cash Generated From Operations

LAVAL, QC, Feb. 26, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") today announced it will reduce debt by $100 million through the redemption of outstanding senior secured notes, using cash generated from operations.

The Company will redeem $100 million aggregate principal amount of its outstanding 7.00% Senior Secured Notes due 2024, CUSIP Nos. 91911K AK8, C94143 AK7 (the "Notes") on March 29, 2021. The Company previously announced on Feb. 22, 2021, that it would redeem $100 million aggregate principal amount of the Notes on March 24, 2021. Together, these redemptions will result in a total of $200 million aggregate principal amount of the Notes being redeemed prior to the end of the first quarter of 2021.

Bausch Health will issue today an irrevocable notice of redemption for the Notes and a copy will be issued to the record holders of such Notes. Nothing contained herein shall constitute a notice of redemption of the Notes. Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company. The name and address of the paying agent are as follows: The Bank of New York Mellon; 111 Sanders Creek Parkway, East Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: 800-254-2826.