Bausch Health completes debt exchange for up to $1.6B in 10.00% senior secured notes due 2032

Bausch Health Companies Inc.

Exchange offers expired Dec. 23, 2025; old 4.875% and 11.00% senior secured notes due 2028 exchanged for new notes.
New 10.00% Senior Secured Notes due 2032 issued by subsidiary 1261229 B.C. Ltd. with up to $1.6B aggregate principal.
Final tender results not disclosed in filing; press release attached as Exhibit 99.1 with no additional detail provided.
Exchange extends near-term maturities but increases interest cost for the 4.875% notes while reducing cost for the 11% notes.

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