Bausch Health eyes redemption of 4½%, 5½% notes due 2023

By Cady Vishniac

Detroit, Nov. 18 – Bausch Health Cos. Inc. intends to redeem all of its €1.5 billion 4½% senior notes due 2023 and its $233 million 5½% notes due 2023 on Dec. 18 using the proceeds from a new dual-tranche offering of senior notes due 2029 and 2031, according to a press release.

The 4½% notes redemption is conditional on the completion of one or more debt financings in an aggregate principal amount of at least $1.75 billion and the 5½% notes redemption on the completion of $2 billion in financing. The company expects upon closing of its new note offerings to meet these conditions.

When the redemptions are complete, Bausch Health will have no note maturities until 2024.

Bausch is a Laval, Quebec-based specialty pharmaceutical and medical device company.

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