By Adriano Marchese


Bausch Health Cos. Inc. said Tuesday that it is seeking to refinance its credit agreement worth around $3.48 billion and plans to issue about $1 billion of new debt securities.

The Canadian specialty pharmaceutical company said the refinanced credit agreement is expected to consist of around $2.5 billion of term B loans and $975 million revolving credit facility.

Bausch said that the refinancing agreement is expected to occur only after completing the initial public offering of Bausch + Lomb Corp., the company's eye health products company.

It also said that it intends to issue about $1 billion of secured debt securities which it plans to use to redeem certain senior notes it holds.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-18-22 0826ET