Bausch + Lomb Announces Pricing of Upsized Senior Secured Notes Offering

VAUGHAN, Ontario—Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company, has announced that its subsidiaries, Bausch+Lomb Netherlands B.V. and Bausch & Lomb Incorporated, have priced the offering of €675 million aggregate principal amount of senior secured floating rate notes due 2031. The size of the offering was increased from the €600 million aggregate principal amount of notes previously announced last week. The notes will be sold to investors at 99.500 percent of their principal amount. According to the announcement, the company is also seeking to partially refinance its credit agreement, whereby it intends to obtain a $2.325 billion new term B loan facility and a new $800 million revolving credit facility. The new term B loan is expected to accrue interest at a rate of term SOFR + 4.25 percent per annum. The allocated size of the new term B loan facility was increased from a previously announced $2.2 billion.