Bausch + Lomb Corporation Enters into Second Incremental Amendment to Credit Agreement

Bausch + Lomb Corporation (NYSE: BLCO) announced on November 1, 2024, that they have entered into the Second Incremental Amendment to their existing credit and guaranty agreement. The amendment, known as the “Second Incremental Amendment,” is an extension of the Credit Agreement dated May 10, 2022, further amended by the First Incremental Amendment on September 29, 2023.

As per the terms of the Second Incremental Amendment, Bausch + Lomb Corporation has borrowed $400,000,000 of new term loans, referred to as the “Second Incremental Term Loans.” These loans are set to mature on May 10, 2027, and will amortize in quarterly installments beginning with the fiscal quarter ending March 31, 2025.

The funds secured through the Second Incremental Term Loans will serve various purposes. A portion of the proceeds will be utilized to repay revolving loans outstanding under the Credit Agreement, with the remainder intended for general corporate purposes. The Second Incremental Term Loans will accrue interest at a rate per annum determined by the borrower’s preference, based on either a base rate or term SOFR, plus an applicable margin.

It is worth noting that the Second Incremental Amendment does not alter other terms of the Credit Agreement. The full context of the Credit Agreement, as amended by the Second Incremental Amendment, is attached as Exhibit 10.1 to the Current Report on Form 8-K submitted by Bausch + Lomb Corporation to the Securities and Exchange Commission.

In tandem with this development, Bausch + Lomb Corporation has filed the necessary details regarding the Second Incremental Amendment as part of its Form 8-K SEC filing.

This press release contains forward-looking statements which are subject to known and unknown risks and uncertainties that could cause actual results to differ materially. Interested parties are advised to refer to the company’s filings with the Securities and Exchange Commission for a comprehensive understanding of the risks and uncertainties.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bausch + Lomb’s 8K filing here.

About Bausch + Lomb

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.