---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-063008"
form_type: "8-K"
ticker: "OGN"
cik: "0001821825"
company_name: "Organon & Co."
filed_at: "2024-05-17T23:59:59+00:00"
generated_at: "2026-06-01T16:43:42.460183+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Organon issues $1B in senior notes, amends credit facilities to extend maturities and reduce rates

## Summary
- Issued $500M 6.750% senior secured notes due 2034 and $500M 7.875% unsecured notes due 2034.
- Net proceeds to repay a portion of existing Dollar Term Facility borrowings.
- Term loan maturity extended to May 2031; revolving facility extended to Dec 2027 and increased by $300M to $1.3B.
- Interest rate on remaining $1.55B term loans reduced from Term SOFR+3.0% to Term SOFR+2.50%.
- Revolving facility commitment fee reduced to 0.375%.

## SEC filing metadata
- accession: 0001104659-24-063008
- form_type: 8-K
- ticker: OGN
- cik: 0001821825
- company_name: Organon & Co.
- filed_at: 2024-05-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1821825/000110465924063008/0001104659-24-063008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1821825/000110465924063008/tm2414822d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-063008
- JSON: https://secwatch.observer/filing/0001104659-24-063008.json
- Plain text: https://secwatch.observer/filing/0001104659-24-063008.txt

## Key facts
- Material Agreements
  Organon & Co. entered into Indentures for 6.750% Senior Secured Notes due 2034 and 7.875% Senior Unsecured Notes due 2034 with U.S. Bank Trust Company, National Association valued at two series of notes totaling $1,000,000,000 principal amount: $500,000,000 6.750% senior secured not (effective 2024-05-17).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: two series of notes totaling $1,000,000,000 principal amount: $500,000,000 6.750% senior secured not
  - Effective: 2024-05-17
  source text: On May 17, 2024, Organon & Co. (the “ Company ”) and Organon Foreign Debt Co-Issuer B.V., a Dutch private limited liability company ( besloten vennootschap met beperkte aansprakelijkheid ) and wholly-owned subsidiary of Organon (the “ Co-Issuer ”, and together with the Company, the “ Companies ”), closed their previously announced private offering (the “ Notes Offering ”) of $500 million of 6.750% senior secured notes due 2034 (the “ Secured Notes ”) and $500 million of 7.875% senior unsecured notes due 2034 (the “ Unsecured Notes ” and, together with the Secured Notes, the “ Notes ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821825/000110465924063008/0001104659-24-063008-index.htm
- Material Agreements
  Organon & Co. entered into Amendment No. 2 to Senior Secured Credit Agreement and Amendment to Security Agreement with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent valued at amendment to existing senior secured credit facilities: extended maturity of Dollar Term Facility to (effective 2024-05-17).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
  - Value: amendment to existing senior secured credit facilities: extended maturity of Dollar Term Facility to
  - Effective: 2024-05-17
  source text: On May 17, 2024, the Companies entered into Amendment No. 2 to Senior Secured Credit Agreement and Amendment to Security Agreement (the “ Credit Agreement Amendment ”), by and among the Companies as borrowers, the Subsidiary Guarantors, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821825/000110465924063008/0001104659-24-063008-index.htm

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