Bausch + Lomb Completes Refinancing of Outstanding Term B Loans

VAUGHAN, Ontario: Bausch + Lomb Corporation, a leading global eye health company dedicated to helping people see better to live better, today announced that it closed the previously announced credit agreement refinancing.

In connection with the closing, Bausch + Lomb has entered into a fourth amendment (the “Fourth Amendment”) to its existing credit agreement providing for a $2,802,125,000 tranche (the “Replacement Term Loans”) of new term B loans, the proceeds of which were used to refinance all of its outstanding term B loans due 2031 (the “Third Amendment Term Loans”) and its outstanding term B loans due 2028 (the “First Incremental Term Loans”).

The amortization rate for the Replacement Term Loans is 1.00% per annum and the first installment shall be payable on June 30, 2026. Pursuant to the Fourth Amendment, the applicable margin is (i) 3.75% per annum for Replacement Term Loans with an interest rate determined by reference to term SOFR and (ii) 2.75% per annum for Replacement Term Loans with an interest rate determined by reference to the alternate base rate.

The margin applicable to the Replacement Term Loans represents a 0.50% per annum reduction from the applicable margin that applied to the Third Amendment Term Loans and a 0.25% per annum reduction from the applicable margin that applied to the First Incremental Term Loans.

The Replacement Term Loans will mature on January 15, 2031, which is the same maturity date that applied to the Third Amendment Term Loans and which represents an effective maturity extension of the First Incremental Term Loans from September 29, 2028.

(BUSINESS WIRE)