LAVAL, Quebec, Sept. 11, 2018 /PRNewswire/ -- Bausch
Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") today announced it has paid down an additional
$57 million of its senior secured term loans and $50 million of its
revolver borrowings, using cash on hand. As a result, the Company has eliminated all mandatory amortization for the remainder of
2018.
"We are able to further reduce our debt and eliminate all remaining mandatory amortization for 2018 due to ongoing
strong cash flow from operations, " said Joseph C. Papa, chairman and
CEO, Bausch Health. "We continue to remain committed to reducing our debt while also
investing in the Company's core businesses that drive future growth."
In addition, Bausch Health paid down $132 million of debt earlier in the third quarter of
2018, which was disclosed when the Company reported its second-quarter 2018 financial results last month. Together, these
transactions bring the Company's total debt repayment in the quarter to nearly $240
million.
About Bausch Health
Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global company whose mission is to improve people's
lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and
over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering
on our commitments as we build an innovative company dedicated to advancing global health. More information can be found
at www.bauschhealth.com
.
Forward-lookingStatements
This news release may contain forward-looking statements, which may generally be identified by the use of
the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates,"
"potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current
expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to
differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not
limited to, risks and uncertainties discussed in the Company's most recent annual or quarterly report and detailed from time to
time in the Company's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which
factors are incorporated herein by reference. In addition, certain material factors and assumptions have been applied in making
these forward-looking statements, including that the risks and uncertainties outlined above will not cause actual results or
events to differ materially from those described in these forward-looking statements. The Company believes that the material
factors and assumptions reflected in these forward-looking statements are reasonable, but readers are cautioned not to place
undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof.
Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after
the date of this news release or to reflect actual outcomes, unless required by law.
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SOURCE Bausch Health Companies Inc.