Bausch Health Companies Inc. said Tuesday it is planning to reduce its debt by about $200 million by repaying senior secured term loans and redeeming senior notes using cash flow from operations. The company, which was formerly called Valeant, said it will prepay about $100 million of senior secured term loans this week after which it will face no further mandatory amortization payments until 2021. The second $100 million payment will be made on Oct. 3. Bausch had about $24 billion of long-term debt at the end of June, according to FactSet data. Shares rose 0.9% premarket and have gained 15.5% in 2019, while the S&P 500 has gained 16.7%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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