secwatch.observer — SEC 8-K summary
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Issuer:     Bausch Health Companies Inc. (BHC)
CIK:        0000885590
Form:       8-K
Filed at:   2025-12-29T23:59:59+00:00
Accession:  0000885590-25-000059
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bausch Health completes $1.6B exchange of senior secured notes, pledges additional 60% of Bausch + Lomb
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- Issued $1.6B aggregate principal of new 10.00% Senior Secured Notes due 2032 in exchange for outstanding 4.875% and 11.00% notes due 2028.
- New notes are fungible with existing $4.4B of 10.00% Senior Secured Notes due 2032 issued April 2025.
- Pledged additional 26.5M Bausch + Lomb common shares, increasing pledge from ~52.5% to ~60% of outstanding common shares.
- Total collateral now includes 211.96M Bausch + Lomb shares as security for both existing and new notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885590/000088559025000059/0000885590-25-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885590/000088559025000059/bhc-20251226.htm
  HTML page:      https://secwatch.observer/filing/0000885590-25-000059

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer