---
schema_version: "secwatch.filing_event.v1"
accession: "0000885590-25-000010"
form_type: "8-K"
ticker: "BHC"
cik: "0000885590"
company_name: "Bausch Health Companies Inc."
filed_at: "2025-03-19T23:59:59+00:00"
generated_at: "2026-05-24T12:43:19.498364+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bausch Health launches $4.0B secured notes offering and $3.8B credit facilities to refinance debt

## Summary
- Indirect subsidiary launched $4.0B senior secured notes due 2032 to qualified institutional investors.
- New senior secured credit facilities: $400M 5-year revolver and $3.4B 5.5-year term loan B, pari passu with notes.
- Proceeds to repay secured term loan due 2027, redeem all 2025 and 2027 notes, and redeem 9.000% HoldCo notes due 2028.
- Conditional redemption notices: 2025 notes redemption April 18, 2025; 2027/HoldCo notes redemption April 4, 2025.
- Redemption conditioned on closing of note offering and term loan funding; no assurances given.

## SEC filing metadata
- accession: 0000885590-25-000010
- form_type: 8-K
- ticker: BHC
- cik: 0000885590
- company_name: Bausch Health Companies Inc.
- filed_at: 2025-03-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885590/000088559025000010/0000885590-25-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885590/000088559025000010/bhc-20250319.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885590-25-000010
- JSON: https://secwatch.observer/filing/0000885590-25-000010.json
- Plain text: https://secwatch.observer/filing/0000885590-25-000010.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.