on Bausch Health Companies Inc. (NASDAQ:BHC)
Bausch Health Launches Debt Exchange Offers for Senior Secured Notes
Bausch Health Companies Inc. has initiated offers to exchange up to $1.6 billion in senior secured notes. The offers target existing 4.875% and 11.00% senior secured notes, both due in 2028, for new 10.00% notes due 2032. These new notes are set to align with the company's existing $4.4 billion in similar notes issued earlier in 2025.
The exchange aims to manage intermediate-term debt maturities. The initiative expires on December 23, 2025, unless extended. Holders participating by December 8, 2025, can benefit from an early exchange premium.
A significant group of noteholders, representing about 46% of the existing notes, has agreed to support the exchange. The offers are made to qualified institutional buyers or non-U.S. persons, following specific regulatory frameworks.
Details are in the confidential exchange offer memorandum. The exchange agent D.F. King & Co., Inc. coordinates information requests.
R. P.
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