Bausch Health’s stock rallies after $600 million financing agreement with KKR

Shares of Bausch Health Companies Inc.
BHC,
+4.03%
rallied 2.1% in premarket trading Friday, after the pharmaceutical company announced a $600 million financing facility with KKR & Co. Inc.
KKR,
+1.15%,
an alternative asset management firm. Bausch Health said it plans to use the proceeds from the facility, which provides access to additional liquidity for five years, for general corporate purposes. Bausch’s stock has climbed 22.5% year to date through Thursday, while the S&P 500
SPX,
-0.10%
has gained 14.9%.