Bausch + Lomb Corporation announced the completion of a refinancing of its outstanding Term B loans.
The company closed a credit agreement refinancing, including a $2,802,125,000 tranche of new term B loans.
Proceeds from the Replacement Term Loans were used to refinance existing term B loans due in 2031 and 2028.
Amortization Rate
1.00% per annum with first installment due on June 30, 2026.
Applicable Margin
3.75% per annum for Replacement Term Loans with term SOFR reference rate and 2.75% per annum for alternate base rate.
Maturity Date
Replacement Term Loans mature on January 15, 2031, extending the maturity of First Incremental Term Loans from September 29, 2028.
- The refinancing of Term B loans provides Bausch + Lomb with improved financial flexibility.
- Lower applicable margin on Replacement Term Loans leads to reduced interest costs for the company.
Bausch + Lomb's refinancing of Term B loans signifies a strategic move to optimize its financial structure and manage debt effectively, paving the way for future growth and innovation in the eye health industry.