---
schema_version: "secwatch.filing_event.v1"
accession: "0000885590-25-000057"
form_type: "8-K"
ticker: "BHC"
cik: "0000885590"
company_name: "Bausch Health Companies Inc."
filed_at: "2025-12-23T23:59:59+00:00"
generated_at: "2026-05-16T12:22:38.224828+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "medium"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000885590-25-000057
- form_type: 8-K
- ticker: BHC
- cik: 0000885590
- company_name: Bausch Health Companies Inc.
- filed_at: 2025-12-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: medium
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885590/000088559025000057/0000885590-25-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885590/000088559025000057/bhc-20251223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885590-25-000057
- JSON: https://secwatch.observer/filing/0000885590-25-000057.json
- Plain text: https://secwatch.observer/filing/0000885590-25-000057.txt

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