Bausch + Lomb closes €675M notes offering and $2.325B term loan refinancing, extends maturities to 2031

Bausch & Lomb Corp

• €675M senior secured floating rate notes due Jan 15, 2031, at EURIBOR + 3.875%, priced at 99.5%.
• $2.325B term B loans due 2031 at SOFR+4.25% or base+3.25%; $800M revolver replaced $500M revolver.
• Proceeds used to repay 2027 term A and B loans and revolver; first-lien net leverage covenant raised to 5.75:1 (stepping down).
• Term loans amortize at 1% per annum; first payment Sept 30, 2025.
• Notes secured on first-priority basis by collateral also securing existing credit and senior secured notes.