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  "presentationDate": "2022-05-01 00:00:00",
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  "notes": "The slide uses a numbered list to highlight five key financial achievements and strategic goals.",
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      "text": "1. Total debt reduced by approx. ~$3.4 billion (15%) to ~$20.0 billion\n2. Debt maturity profile improved — obligations through 2025 reduced by $5.8 billion\n3. Hedged against rising interest rates: ~85% of debt fixed\n4. Flexibility to monetize remaining stake of Bausch + Lomb equity (~10%)\n5. Continue to target 6.5x-6.7x net leverage to enable distribution of remaining ~80% Bausch + Lomb shares",
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      "text": "Post Q1 2022 (as of May 10, 2022):",
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      "text": "1. BAUSCH+LOMB IPO priced on May 5, 2022, and is scheduled to close on May 10, 2022, subject to customary closing conditions. BAUSCH+LOMB debt raise is subject to the completion of the BAUSCH+LOMB IPO.\n2. Does not include $2.5B of B+L term loan to be entered into by B+L in connection with the closing of the B+L IPO",
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      "kind": "title",
      "text": "Unconsolidated Bausch Pharma Debt Reduction and Capital Structure Update",
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