SEC Form SC 13G filed by Bausch Health Companies Inc.

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SC 13G 1 d463324dsc13g.htm SC 13G SC 13G

 

 

Securities and Exchange Commission

Washington, D.C. 20549

 

 

Schedule 13G

(Rule 13d-102)

Information to be Included in Statements Filed Pursuant

to § 240.13d-1(b), (c) and (d) and Amendments Thereto Filed

Pursuant to § 240.13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.     )*

 

 

Bausch Health Companies Inc.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

071734107

(CUSIP Number)

November 3, 2022

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)

☐ Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 071734107    Schedule 13G    Page 1 of 9

 

  1    

  Names of Reporting Persons

 

  GoldenTree Asset Management LP

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  19,421,054

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  19,421,054

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  19,421,054

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  5.4%

12  

  Type of Reporting Person

 

  PN


CUSIP No. 071734107    Schedule 13G    Page 2 of 9

 

  1    

  Names of Reporting Persons

 

  GoldenTree Asset Management LLC

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  19,421,054

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  19,421,054

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  19,421,054

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  5.4%

12  

  Type of Reporting Person

 

  OO (Limited Liability company)


CUSIP No. 071734107    Schedule 13G    Page 3 of 9

 

  1    

  Names of Reporting Persons

 

  Steven A. Tananbaum

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  United States

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  332,000

   6   

  Shared Voting Power

 

  19,421,054

   7   

  Sole Dispositive Power

 

  332,000

   8   

  Shared Dispositive Power

 

  19,421,054

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  19,753,054

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  5.5%

12  

  Type of Reporting Person

 

  IN


CUSIP No. 071734107    Schedule 13G    Page 4 of 9

 

ITEM 1.

(a)      Name of Issuer:

Bausch Health Companies Inc. (the “Issuer”).

 

  (b)

 Address of Issuer’s Principal Executive Offices:

2150 St. Elzéar Blvd. West, Laval, Québec, Canada H7L 4A8.

 

ITEM 2.

(a)      Name of Person Filing:

Each of the following is hereinafter individually referred to as a “Reporting Person” and collectively as the “Reporting Persons.” This statement is filed on behalf of:

GoldenTree Asset Management LP (the “Investment Manager”)

GoldenTree Asset Management LLC (“IMGP”)

Steven A. Tananbaum

 

  (b)

 Address or Principal Business Office:

The principal business address of each of the Reporting Persons is 300 Park Avenue, 21st Floor, New York, NY 10022.

 

  (c)

 Citizenship of each Reporting Person is:

Investment Manager and IMGP are organized under the laws of the State of Delaware. Mr. Tananbaum is a citizen of the United States.

 

  (d)

 Title of Class of Securities:

Common Shares, no par value (“Common Shares”).

 

  (e)

 CUSIP Number:

071734107

 

ITEM 3.

Not applicable.


CUSIP No. 071734107    Schedule 13G    Page 5 of 9

 

ITEM 4.

Ownership.

(a-c)

The ownership information presented below represents beneficial ownership of Ordinary Shares of the Issuer as of the date hereof, based upon 361,868,131 Ordinary Shares outstanding as of October 28, 2022, based on the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 3, 2022.

 

Reporting Person   

Amount

beneficially

owned

    

Percent

of class:

    Sole power
to vote or
to direct
the vote:
     Shared power
to vote or to
direct the
vote:
    

Sole power
to dispose or
to direct the
disposition

of:

    

Shared

power to

dispose or

to direct

the

disposition

of:

 

GoldenTree Asset Management LP

     19,421,054        5.4     0        19,421,054        0        19,421,054  

GoldenTree Asset Management LLC

     19,421,054        5.4     0        19,421,054        0        19,421,054  

Steven A. Tananbaum

     19,753,054        5.5     332,000        19,421,054        332,000        19,421,054  

The securities reported in the table above include 19,421,054 Ordinary Shares held of record by certain managed accounts (collectively, the “Accounts”) for which the Investment Manager serves as investment manager. In addition, Mr. Tananbaum is the holder of record of 332,000 Ordinary Shares. Mr. Tananbaum is the managing member of IMGP, which is the general partner of the Investment Manager. As a result of these relationships, each of the Reporting Persons may be deemed to share beneficial ownership of the securities held of record by the Accounts.

 

ITEM 5.

Ownership of Five Percent or Less of a Class.

Not applicable.

 

ITEM 6.

Ownership of More than Five Percent on Behalf of Another Person.

The Investment Manager is an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, as amended. The business of Investment Manager is the rendering of financial services and as such, it provides discretionary investment advisory services to each of the Accounts, which have the right to receive the proceeds from the sale of, or the power to direct the receipt of dividends from, the securities reported in this Schedule 13G.

 

ITEM 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

Not applicable.


CUSIP No. 071734107    Schedule 13G    Page 6 of 9

 

ITEM 8.

Identification and Classification of Members of the Group.

Not applicable.

 

ITEM 9.

Notice of Dissolution of Group.

Not applicable.

 

ITEM 10.

Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.


CUSIP No. 071734107    Schedule 13G    Page 7 of 9

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 13, 2023

 

GOLDENTREE ASSET MANAGEMENT LP
By: GoldenTree Asset Management LLC, its general partner
By:   /s/ Steven A. Tananbaum
Name:   Steven A. Tananbaum
Title:   Managing Member
GOLDENTREE ASSET MANAGEMENT LLC
By:   /s/ Steven A. Tananbaum
Name:   Steven A. Tananbaum
Title:   Managing Member
STEVEN A. TANANBAUM
/s/ Steven A. Tananbaum


CUSIP No. 071734107    Schedule 13G    Page 8 of 9

 

LIST OF EXHIBITS

 

Exhibit No.   

Description

99    Joint Filing Agreement.
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