Why Bausch Health Stock Is Jumping Today
Shares of Bausch Health Company (NYSE: BHC) were jumping 4.4% at 10:54 a.m. ET on Wednesday after rising as much as 11.8% earlier in the day. The gain came after the company announced results so far for its offers to exchange some existing senior notes for new secured notes.
Bausch Health announced on Aug. 30 that it planned to conduct these exchange offers. At that time, the company stated that holders of nearly 23% of the existing senior notes had agreed to tender all their notes in the exchange offers.
There appeared to be some confusion among noteholders after that announcement, though. On Sept. 8, Bausch released a clarification about some of the provisions pertaining to its exchange offers.
Source Fool.com
