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Bausch Health calls $1.24 billion 5 7/8% notes due 2023
By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – Bausch Health Cos. Inc. issued a conditional call to redeem $1.24 billion of its outstanding 5 7/8% senior notes due 2023 on Jan. 16.
The redemption is subject to the company issuing at least $2.5 billion of new debt, which the company expects to satisfy with closing of its recent offering of $1.25 billion of notes due Jan. 30, 2028, which priced at par to yield 5%, and $1.25 billion of notes due Jan. 30, 2030, which priced at par to yield 5¼%. Both offerings priced on Tuesday.
Based in Laval, Quebec, Bausch develops, manufactures and markets pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology.
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