---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-276139"
form_type: "8-K/A"
ticker: "BHC"
cik: "0000885590"
company_name: "Bausch Health Companies Inc."
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T05:56:59.726469+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bausch Health's B+L closes $1.75B acquisition of XIIDRA from Novartis; issues $1.9B in debt

## Summary
- Bausch + Lomb acquired XIIDRA and other ophthalmology assets from Novartis for $1.75B upfront cash plus up to $750M in milestone payments.
- To finance the acquisition, B+L incurred $1.9B debt: $1.4B 8.375% Senior Secured Notes due 2028 and $500M term B loans.
- Pro forma total assets increase to $27.4B; long-term debt rises to $22.0B; equity decreases slightly.
- Acquired assets historical net assets $1.72B; pro forma adjustments include $125M intangibles reduction and $23M goodwill.
- Bridge Facility of $1.75B canceled upon closing; $1.9B debt issuance replaces it.

## SEC filing metadata
- accession: 0001193125-23-276139
- form_type: 8-K/A
- ticker: BHC
- cik: 0000885590
- company_name: Bausch Health Companies Inc.
- filed_at: 2023-11-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885590/000119312523276139/0001193125-23-276139-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885590/000119312523276139/d295308d8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-276139
- JSON: https://secwatch.observer/filing/0001193125-23-276139.json
- Plain text: https://secwatch.observer/filing/0001193125-23-276139.txt

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