LAVAL, Quebec, Nov. 27, 2018 /PRNewswire/ -- Bausch Health
Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") announced today that it has entered into an incremental term
loan facility amendment (the "Incremental Amendment") to its credit agreement, pursuant to which Valeant Pharmaceuticals
International ("VPI"), a Delaware corporation and a wholly owned indirect subsidiary of the
Company, borrowed $1,500,000,000 of new term B loans (the "New Term B Loans"). The applicable
interest rate margins for the New Term B Loans are 1.75% with respect to base rate borrowings and 2.75% with respect to
eurocurrency rate borrowings. The net proceeds from the New Term B Loans, along with cash on hand, were used to fund the purchase
of notes validly tendered pursuant to the Company's cash tender offer (the "Tender Offer") to purchase any and all of its
outstanding 7.500% Senior Notes due 2021 (the "Notes"). The Company also announced on Nov. 27, 2018
that it will redeem any and all remaining outstanding Notes, using cash on hand. The Company issued today an irrevocable notice
of redemption for the Notes.
On Nov. 27, 2018, a copy of the irrevocable notice of redemption with respect to the Notes was
issued to the record holders of the 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 on Dec. 27, 2018. The name and address of the paying agent are as follows: The Bank of New
York Mellon Trust Company, N.A., c/o The Bank of New York Mellon; 111 Sanders Creek Parkway, East
Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: 800-254-2826.
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.
Caution Regarding Forward-Looking Information and "Safe Harbor" Statement
This news release may contain forward-looking statements, including, but not limited to, the redemption of the Notes,
the Tender Offer and related solicitation of consents, the details thereof and other expected effects of the Tender Offer or the
related solicitation of consents and the Incremental Amendment. Forward-looking statements 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 and quarterly reports and detailed from time to
time in Bausch Health's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators,
which factors are incorporated herein by reference. 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.