Bausch Health Companies Inc Stock Price, News & Analysis

Bausch Health (NYSE/TSX: BHC) has priced an upsized private offering of $4.4 billion in senior secured notes due 2032 with a 10.000% interest rate through its subsidiary 1261229 B.C. The offering was increased from the initial $4.0 billion target.

The company is also establishing new senior secured credit facilities, including a $500 million 5-year revolving credit facility and a $3.0 billion 5.5-year term loan facility (reduced from $3.4 billion). The proceeds will be used to repay existing credit agreements, redeem various senior secured notes, and for general corporate purposes.

The notes will be secured by a first-priority lien on the issuer's assets, including a 52.5% equity interest in Bausch + Lomb. The offering is expected to close on April 8, 2025, subject to customary conditions.

Bausch Health (NYSE/TSX: BHC) has announced conditional redemption notices for multiple series of senior notes, including 5.500% Senior Secured Notes due 2025, 9.000% Senior Notes due 2025, 5.750% Senior Secured Notes due 2027, and 6.125% Senior Secured Notes due 2027. Additionally, its subsidiary 1375209 B.C. will redeem all outstanding 9.000% Senior Secured Notes due 2028.

The redemptions are contingent upon closing of new financing transactions, which include:

• $4,000 million in new senior secured notes due 2032
• $3,400 million from a new 5.5-year senior secured term loan B facility

The redemption process will be handled through the Depository Trust Company, with the company retaining the right to delay redemption dates if financing conditions are not met.

Bausch Health (BHC) has launched the syndication of new senior secured credit facilities totaling at least $3.8 billion, consisting of a 5-year $400 million senior secured revolving credit facility and a $3.4 billion 5.5-year secured term loan B facility. The transaction, led by JPMorgan Chase Bank, is part of a broader refinancing initiative to address near- and mid-term maturities.

The facilities will be secured by first-priority liens on the borrower's assets, including Bausch + Lomb equity interest. The company plans to use proceeds to repay existing credit agreements, redeem various senior secured and senior notes due between 2025-2028, and for general corporate purposes. Bausch Health reduced net debt by nearly $1 billion in 2024 and reports seven consecutive quarters of top- and bottom-line growth.

Bausch Health (NYSE:BHC) has launched a $4.0 billion senior secured notes offering due 2032 through its subsidiary 1261229 B.C. The company is also seeking to establish new senior secured credit facilities, including a $400 million 5-year revolving credit facility and a $3,400 million 5.5-year term loan facility.

The notes will be secured by first-priority liens on the issuer's assets, including Bausch + Lomb equity interest, and guaranteed by various company subsidiaries. The proceeds, combined with the new term loan facility, will be used to:

• Repay and terminate existing credit agreement
• Redeem all existing senior secured and senior notes due 2025-2028
• Pay related fees and expenses
• Fund general corporate purposes

The notes will be offered exclusively to qualified institutional buyers in the US and non-US persons outside the United States, with specific exemptions for Canadian securities laws.

Bausch Health Companies Inc. (NYSE/TSX:BHC) has announced an update regarding its financing initiatives, revealing the engagement of J.P. Morgan to assist with its previously disclosed financing objectives. The company emphasizes that any potential transactions are subject to market conditions and other factors, with no guarantee of successful completion on acceptable terms.

Bausch Health (BHC) reported strong financial results for Q4 and full-year 2024, marking its seventh consecutive quarter of year-over-year growth in both Revenue and Adjusted EBITDA. Fourth quarter revenues reached $2.56 billion, up 6% on a reported basis and 9% organically, while full-year revenues hit $9.63 billion, increasing 10% on a reported basis and 8% organically.

The company achieved Q4 GAAP Net Income of $93 million, though recorded a full-year net loss of $46 million. Consolidated Adjusted EBITDA grew 8% to $935 million in Q4 and 10% to $3.31 billion for the full year. All business segments showed growth, with particularly strong performance from Solta Medical (34% growth) and Bausch + Lomb (9% growth) in Q4.

Bausch Health Companies (NYSE/TSX: BHC) has announced its participation in the 2025 J.P. Morgan Global Leveraged Finance Conference in Miami Beach, Florida. The event is scheduled for Monday, February 24, 2025, at 8:45 a.m. EST.

The company will provide a live audio webcast of the event, which will be accessible through the Investor Relations section of Bausch Health's website. Interested parties can access the webcast at http://ir.bauschhealth.com/events-and-presentations. A replay of the event will be made available on the same investor relations website after the conference.

Bausch Health (NYSE/TSX: BHC) and its GI business, Salix Pharmaceuticals, have announced their 2025 Salix Gastrointestinal Health Scholars Program. The initiative will provide ten scholarships of up to $10,000 each to students living with GI diseases who are pursuing higher education.

This marks the sixth consecutive year of the program, which supports students attending two- or four-year colleges, universities, or advanced vocational/technical schools for the 2025-2026 academic year. The scholarships are available in three categories: Undergraduate Scholar Awards, Graduate Scholar Awards, and Working and/or Single Parents Scholar Awards.

Applicants must complete an online application, submit reference letters, and write an essay about their GI condition's impact on their life and their healthcare provider's role. The application period closes on May 5, 2025, with winners to be announced in summer 2025.

Bausch Health (NYSE/TSX: BHC) has provided an update regarding the potential sale of its Bausch + Lomb subsidiary, which was initially disclosed in December 2024. During the second half of 2024, while exploring liability management alternatives, Bausch + Lomb received an acquisition offer from a private equity firm. However, both companies' boards determined the offer didn't reflect Bausch + Lomb's long-term value and decided not to proceed with the sale.

Bausch Health will maintain its 88% ownership stake in Bausch + Lomb and continue working on liability management alternatives, including new debt financing. The company highlighted strong business performance in 2024, having raised its full-year guidance for revenue, adjusted EBITDA, and adjusted operating cash flow in October 2024. Fourth quarter and full-year 2024 earnings, along with 2025 guidance, will be reported on February 19, 2025.