On December 18, 2019 Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") reported that it issued today a conditional notice of redemption for $1.240 billion aggregate principal amount of the Company’s outstanding 5.875% Senior Notes due 2023 (the "2023 Notes") (Press release, Bausch Health, DEC 18, 2019, View Source [SID1234552485]). The redemption of the 2023 Notes is conditioned upon the closing of an offering of debt securities by the Company generating gross proceeds of at least $2,500,000,000. The Company expects to satisfy this condition with its recently announced offering of $1,250,000,000 aggregate principal amount of 5.000% senior notes due 2028 (the "2028 Notes") and $1,250,000,000 aggregate principal amount of 5.250% senior notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "New Notes"), which was priced on Dec. 17, 2019 and is expected to close on Dec. 30, 2019, subject to customary closing conditions.
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On Dec. 18, 2019, a copy of the conditional notice of redemption with respect to the 2023 Notes was issued to record holders. Payment of the redemption price and surrender of the 2023 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 Jan. 16, 2020. 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 Trust Company, N.A.; 111 Sanders Creek Parkway, East Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: (800) 254-2826.