{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-055359","form_type":"8-K","ticker":"BAX","cik":"0000010456","company_name":"BAXTER INTERNATIONAL INC","filed_at":"2025-12-04T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.646885+00:00","generated_at":"2026-05-16T14:28:46.278503+00:00","sec_items":["1.01","8.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Baxter issues $2B in senior notes; launches tender offers for 2026 and 2027 notes","bullets":["Issued $300M 4.450% notes due 2029, $700M 4.900% notes due 2030, and $1B 5.650% notes due 2035.","Net proceeds of ~$1.99B used to repay term loan and fund tender offers for 2026 and 2027 notes.","Tender offers: $420.6M of 2026 notes tendered; $1.089B of 2027 notes tendered, prorated to ~$614.4M accepted.","Repaid all outstanding obligations under Term Loan Credit Agreement on December 4, 2025.","Tender offers priced at fixed spreads: 2026 notes at +30 bps, 2027 notes at +40 bps over UST yields."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-055359","json":"https://secwatch.observer/filing/0001628280-25-055359.json","markdown":"https://secwatch.observer/filing/0001628280-25-055359.md","text":"https://secwatch.observer/filing/0001628280-25-055359.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/10456/000162828025055359/0001628280-25-055359-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/10456/000162828025055359/bax-20251204.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T14:28:46.278503+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":[{"claim_id":"0b0e0c863cadfb9c9d70098eb01c9b718a1d64c1","claim":"BAXTER INTERNATIONAL INC incurred senior notes of $700,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 4.900% maturing December 15, 2030.","evidence_excerpt":"$700,000,000 aggregate principal amount of the Company’s 4.900% Senior Notes due 2030","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000162828025055359/0001628280-25-055359-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$700,000,000 aggregate principal amount"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Rate","value":"4.900%"},{"label":"Maturity","value":"December 15, 2030"},{"label":"Event","value":"incurrence"}]},{"claim_id":"44a721b7c1ecdad05ab810e2fd196688aac4a5c5","claim":"BAXTER INTERNATIONAL INC incurred senior notes of $1,000,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 5.650% maturing December 15, 2035.","evidence_excerpt":"$1,000,000,000 aggregate principal amount of the Company’s 5.650% Senior Notes due 2035","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000162828025055359/0001628280-25-055359-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$1,000,000,000 aggregate principal amount"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Rate","value":"5.650%"},{"label":"Maturity","value":"December 15, 2035"},{"label":"Event","value":"incurrence"}]},{"claim_id":"a915fb4b170d8bba4d7567691e435ee3a6a64ffc","claim":"BAXTER INTERNATIONAL INC incurred senior notes of $300,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 4.450% maturing February 15, 2029.","evidence_excerpt":"the issuance by the Company of $300,000,000 aggregate principal amount of the Company’s 4.450% Senior Notes due 2029","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000162828025055359/0001628280-25-055359-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$300,000,000 aggregate principal amount"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Rate","value":"4.450%"},{"label":"Maturity","value":"February 15, 2029"},{"label":"Event","value":"incurrence"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}