KKR provides $600m facility to Bausch Health Companies

• The facility will be collateralized by certain accounts receivables originated by a subsidiary of Bausch Health
• Bausch Health expects to utilize the proceeds of the facility for general corporate purposes
• Based in New York, KKR is a multi-strategy alternative investment firm

Bausch Health Companies, a Laval, Quebec-based diversified pharmaceutical company, has entered into a $600 million non-recourse financing facility with KKR’s credit group.

The facility will be collateralized by certain accounts receivables originated by a subsidiary of Bausch Health.

Bausch Health develops, manufactures and markets a range of products in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals and eye health through its controlling interest in Bausch + Lomb. It expects to utilize the proceeds of the facility for general corporate purposes.

Based in New York, KKR is a multi-strategy alternative investment firm. It was founded in 1976.

Houlihan Lokey acted as financial advisor to Bausch Health on the transaction. Finacity Corporation was the administrator for the program, providing analytic and execution support, and is responsible for ongoing program administration and reporting.