Bausch + Lomb closes upsized €675M senior secured notes and $2.325B term loan refinancing

Bausch Health Companies Inc.

Issued €675M senior secured floating rate notes due 2031 at 3-month EURIBOR+3.875%.
Entered $2.325B term B loan facility due 2031; amortization 1% p.a., first payment Sept 2025.
Established new $800M revolver due 2030, replacing $500M facility; covenant levels increased to max 5.75x first lien net leverage.
Proceeds used to repay existing revolver and refinance term A and B loans due 2027.
Third Amendment provides additional transaction flexibility and modified financial covenant levels.

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