Bausch Health Cos. Inc.'s Proposed Revolver And Senior Secured Term Loan Rated 'BB' (Recovery Rating: '1') - S&P Global Ratings’ Credit Research

Bausch Health Cos. Inc.'s Proposed Revolver And Senior Secured Term Loan Rated 'BB' (Recovery Rating: '1')

Bausch Health Cos. Inc.'s Proposed Revolver And Senior Secured Term Loan Rated 'BB' (Recovery Rating: '1') - S&P Global Ratings’ Credit Research
Bausch Health Cos. Inc.'s Proposed Revolver And Senior Secured Term Loan Rated 'BB' (Recovery Rating: '1')
Published Jan 18, 2022
3 pages (1333 words) — Published Jan 18, 2022
Price US$ 150.00  |  Buy this Report Now

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Abstract:

TORONTO (S&P Global Ratings) Jan. 18, 2022--S&P Global Ratings today assigned its 'BB' issue-level rating and '1' recovery rating to Bausch Health Cos. Inc.'s proposed $975 million revolving credit facility and $2.5 billion senior secured term loan. The '1' recovery rating indicates our expectation for very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default. The company plans to use the proceeds from this offering, a follow-on $1 billion secured debt offering, and the proceeds from the Bausch + Lomb IPO and related debt financing (which we expect will close in early February) to fully redeem its 6.125% senior notes due 2025, refinance all of its existing term loan B facilities, partially redeem its 9.000% senior

  
Report Type:

Ratings Action

Ticker
VRX
Issuer
Bausch Health Cos. Inc.
GICS
Pharmaceuticals (35202010)
Sector
Global Issuers
Country
Canada
Region
Canada
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bausch Health Cos. Inc.'s Proposed Revolver And Senior Secured Term Loan Rated 'BB' (Recovery Rating: '1')" Jan 18, 2022. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bausch-Health-Cos-Inc-s-Proposed-Revolver-And-Senior-Secured-Term-Loan-Rated-BB-Recovery-Rating-1-2781581>
  
APA:
S&P Global Ratings’ Credit Research. (). Bausch Health Cos. Inc.'s Proposed Revolver And Senior Secured Term Loan Rated 'BB' (Recovery Rating: '1') Jan 18, 2022. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bausch-Health-Cos-Inc-s-Proposed-Revolver-And-Senior-Secured-Term-Loan-Rated-BB-Recovery-Rating-1-2781581>
  
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