Latest News Bausch Health to Reduce Debt By $150 Million Using Cash Generated From Operations By Staff Friday, October 30, 2020 12:12 AM LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC) announced this week that on Nov. 30, 2020, it will redeem approximately $100 million aggregate principal amount of its outstanding 5.875% senior notes due 2023, representing the entire outstanding amount of the 5.875% notes and approximately $50 million aggregate principal amount of its outstanding 5.50% senior notes due 2023. The redemptions will be accomplished by using cash generated from operations, according to the announcement. In August, Bausch Health announced that it plans to spin off its Bausch + Lomb eye health business into an independent publicly traded entity separate from the remainder of Bausch Health, as VMAIL reported. The spinoff will establish two separate companies, including a fully integrated, pure play eye-health company built on the iconic Bausch + Lomb brand and long history of innovation. The remaining Bausch Health company would be a diversified pharmaceutical company, according to the announcement at the time. In the debt-reduction announcement this week, Bausch said it will issue irrevocable notices of redemption for each series of notes and a copy will be issued to the record holders of such notes.Payment of the redemption price and surrender of the notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company.Bausch Health develops, manufactures and markets a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology.