Bausch Health Companies Inc. (BHC): debt financing — Bausch + Lomb closes upsized €675M senior secured notes and $2.325B term loan refinancing

Bausch Health Companies Inc.

Issued €675M senior secured floating rate notes due 2031 at 3-month EURIBOR+3.875%.
Entered $2.325B term B loan facility due 2031; amortization 1% p.a., first payment Sept 2025.
Established new $800M revolver due 2030, replacing $500M facility; covenant levels increased to max 5.75x first lien net leverage.
Proceeds used to repay existing revolver and refinance term A and B loans due 2027.
Third Amendment provides additional transaction flexibility and modified financial covenant levels.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Bausch Health Companies Inc. incurred senior notes of €675,000,000 aggregate principal amount with Citibank, N.A. at three-month EURIBOR (with a 0% floor) plus 3.875% per year maturing January 15, 2031.

Instrument: senior notes
Principal: €675,000,000 aggregate principal amount
Counterparty: Citibank, N.A.
Rate: three-month EURIBOR (with a 0% floor) plus 3.875% per year
Maturity: January 15, 2031
Event: incurrence

Exact text from the filing

completed the previously announced offering of €675,000,000 aggregate principal amount of senior secured floating rate notes due 2031 (the “Notes”).

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Source: SEC EDGAR

accession 0001193125-25-149731

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