On December 19, 2018 Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") reported it put in notice to pay down an additional $76 million of its senior secured term loans next week, using cash generated from operations (Press release, Valeant, DEC 19, 2018, View Source [SID1234532166]). After this payment, the Company will have eliminated all mandatory amortization for the first quarter of 2019.

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In addition, as previously disclosed, Bausch Health redeemed or called for redemption $325 million of debt earlier in the fourth quarter of 2018. Together, these transactions bring the Company’s total debt repayment in this quarter to approximately $400 million.

"As we continue to transform the company, we remain focused on addressing our debt, and due to continued strong cash flow from operations, we are able to further repay our debt by approximately $400 million in the fourth quarter," said Joseph C. Papa, chairman and CEO, Bausch Health.