LAVAL, Quebec, Sept. 3, 2019 /CNW/ -- Bausch Health Companies
Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") today
announced it will reduce debt by approximately $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 approximately $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 aggregate principal amount of its
outstanding 5.875% Senior Notes due 2023, CUSIP Nos. 91831A AB7,
C96729 AB1 (the "Notes") on Oct. 3,
2019. The Company 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 US paying agent are as follows: The Bank of New York
Mellon Trust Company, N.A., c/o The Bank of New York Mellon; 111
Sanders Creek Parkway, East Syracuse,
N.Y. 13057; Attn: Redemption Unit; Tel:
800-254-2826.
About Bausch Health
Bausch Health Companies Inc.
(NYSE/TSX: BHC) is a global company whose mission is to improve
people's lives with our health care products. We develop,
manufacture and market a range of pharmaceutical, medical device
and over-the-counter products, primarily in the therapeutic areas
of eye health, gastroenterology and dermatology. We are delivering
on our commitments as we build an innovative company dedicated to
advancing global health. More information can be found at
www.bauschhealth.com.
Caution Regarding Forward-Looking Information and "Safe
Harbor" Statement
This news release may contain
forward-looking statements, including, but not limited to, the
redemption of the Notes. Forward-looking statements may generally
be identified by the use of the words "anticipates," "expects,"
"intends," "plans," "should," "could," "would," "may," "will,"
"believes," "estimates," "potential," "target," or "continue" and
variations or similar expressions. These statements are based upon
the current expectations and beliefs of management and are subject
to certain risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. These risks and uncertainties include, but are not
limited to risks and uncertainties discussed in the Company's most
recent annual and quarterly reports and detailed from time to time
in the Company's other filings with the Securities and Exchange
Commission and the Canadian Securities Administrators, which
factors are incorporated herein by reference. Readers are cautioned
not to place undue reliance on any of these forward-looking
statements. These forward-looking statements speak only as of the
date hereof. Bausch Health undertakes no obligation to update any
of these forward-looking statements to reflect events or
circumstances after the date of this news release or to reflect
actual outcomes, unless required by law.
Investor/Media Contact:
Arthur
Shannon
arthur.shannon@bauschhealth.com
(514) 856-3855
(877) 281-6642 (toll free)
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SOURCE Bausch Health Companies Inc.