Bausch Seeks to Push Out 2028 Debts in $3.4 Billion Bond Exchange
A Bausch Health Companies facility in Bridgewater Township, New Jersey.
Photographer: Kristoffer Tripplaar/Sipa/AP PhotoJunk-rated Bausch Health Cos. is starting an exchange offer to take out two more bonds after a series of efforts to address some of its more than $20 billion debt load this year.
The health-care company is calling for investors to exchange two senior secured notes due in 2028 with a combined $3.4 billion outstanding principal. Investors would get up to $1.6 billion 10% senior secured notes maturing in 2032, according to a Monday statement.