{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-075911","form_type":"8-K","ticker":"BHC","cik":"0000885590","company_name":"Bausch Health Companies Inc.","filed_at":"2025-04-09T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.610875+00:00","generated_at":"2026-05-23T18:43:31.928341+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Bausch Health closes $4.4B 10% secured notes due 2032 and $3B term loan facility","bullets":["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)."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-075911","json":"https://secwatch.observer/filing/0001193125-25-075911.json","markdown":"https://secwatch.observer/filing/0001193125-25-075911.md","text":"https://secwatch.observer/filing/0001193125-25-075911.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885590/000119312525075911/0001193125-25-075911-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885590/000119312525075911/d907211d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T18:43:31.928341+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}