Bausch Health Prices Upsized $4.4 Billion Notes Offering

Bausch Health Companies Inc., a global pharmaceutical entity, has announced the pricing of its $4.4 billion senior secured notes offering. The Offering, increased from an initial $4.0 billion, features 10.000% notes due 2032. The transaction is set to close on April 8, 2025, subject to customary closing conditions.

Proceeds from the offering, alongside new senior secured credit facilities, will refinance existing debt, redeem certain senior notes, and support corporate purposes. The firm is introducing a $500 million revolving credit facility and a $3.0 billion term loan, replacing existing credit lines.

The notes are secured by the issuer's assets, including Bausch + Lomb equity, and guaranteed by several company subsidiaries. These moves aim to enhance financial flexibility while aligning with regulatory stipulations.