Bausch Health Companies (BHC.TO, BHC) on Tuesday priced its previously announced offering of US$4.4 billion aggregate principal amount of 10% senior secured notes due 2032 through an indirect wholly owned subsidiary.
The company said the offering was upsized from an initial offering size of $4 billion aggregate principal amount and is expected to close the offering on April 8.
Bausch Health intends to use the proceeds from the offering and borrowings under the New Term Loan Facility to: repay in full and cancel its existing credit agreement; and redeem all of its 5.500% Senior Secured Notes due 2025, 9.000% Senior Notes due 2025, 6.125% Senior Secured Notes due 2027, 5.750% Senior Secured Notes due 2027 and its indirect unit's 9.000% Senior Secured Notes due 2028; and pay related fees, premiums and expenses; and for general corporate purposes.
Shares of the company were last seen udown 0.85% at $10.33 on the Toronto Stock Exchange.
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