Bausch to reduce debt by $100 million using cash from operations

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Bausch Health Cos. Inc. said Monday it will reduce debt by $100 million using cash generated from operations. The drug company, the former Valeant, will redeem $100 million of its outstanding 5.875% notes that mature in 2023. Bausch has $23.4 billion of debt, according to FactSet. Shares were up 1% premarket, but have fallen 43% in the year to date, while the S&P 500 has gained 8.6%.
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