Bausch Health completes $1.6B exchange of senior secured notes, pledges additional 60% of Bausch + Lomb

Bausch Health Companies Inc.

Issued $1.6B aggregate principal of new 10.00% Senior Secured Notes due 2032 in exchange for outstanding 4.875% and 11.00% notes due 2028.
New notes are fungible with existing $4.4B of 10.00% Senior Secured Notes due 2032 issued April 2025.
Pledged additional 26.5M Bausch + Lomb common shares, increasing pledge from ~52.5% to ~60% of outstanding common shares.
Total collateral now includes 211.96M Bausch + Lomb shares as security for both existing and new notes.

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