Bausch Health Companies Inc. (BHC): debt financing — Bausch Health closes $4.4B 10% secured notes due 2032 and $3B term loan facility

Bausch Health Companies Inc.

Closed offering of $4.4B aggregate principal of 10.000% senior secured notes due 2032 via subsidiary 1261229 B.C. Ltd.
Entered new $3B 5.5-year senior secured term loan and $500M 5-year revolving credit facility; proceeds used to repay existing debt.
Notes and credit facilities secured by first-priority liens on assets including 52.5% equity interest in Bausch + Lomb (BLCO).
Mandatory redemption provisions triggered by sale of BLCO shares or dividends over $50M; change-of-control puts at 101%.
Credit agreement includes financial covenant: Blended First Lien Leverage Ratio not exceed 4.25:1.00 (5.75:1.00 post-Xifaxan exclusivity step-up).

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bausch Health Companies Inc. incurred senior notes of $4.4 billion at 10.000% maturing April 15, 2032.

Instrument: senior notes
Principal: $4.4 billion
Rate: 10.000%
Maturity: April 15, 2032
Event: incurrence

Exact text from the filing

completed its previously announced private offering (the “Offering”) of $4.4 billion aggregate principal amount of 10.000% senior secured notes due 2032

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Source: SEC EDGAR

accession 0001193125-25-075911

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