---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-149731"
form_type: "8-K"
ticker: "BHC"
cik: "0000885590"
company_name: "Bausch Health Companies Inc."
filed_at: "2025-06-27T23:59:59+00:00"
generated_at: "2026-05-18T17:12:07.397845+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Bausch + Lomb closes upsized €675M senior secured notes and $2.325B term loan refinancing

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-149731
- form_type: 8-K
- ticker: BHC
- cik: 0000885590
- company_name: Bausch Health Companies Inc.
- filed_at: 2025-06-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885590/000119312525149731/0001193125-25-149731-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885590/000119312525149731/d949183d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-149731
- JSON: https://secwatch.observer/filing/0001193125-25-149731.json
- Plain text: https://secwatch.observer/filing/0001193125-25-149731.txt

## Key facts
- Debt Financings
  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
  source text: completed the previously announced offering of €675,000,000 aggregate principal amount of senior secured floating rate notes due 2031 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/885590/000119312525149731/0001193125-25-149731-index.htm

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