LAVAL, Quebec, Dec. 18, 2019 /CNW/ -- Bausch Health Companies Inc. (NYSE/TSX: BHC ) ("Bausch Health" or the "Company") announced 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"). 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.