Bausch + Lomb Announces Launch Of Senior Secured Notes Offering

(RTTNews) - Bausch + Lomb (BLCO) announced that its subsidiaries, Bausch+Lomb Netherlands B.V. and Bausch & Lomb Incorporated, have launched an offering of 600 million euros aggregate principal amount of senior secured floating rate notes. The company has also launched a partial refinancing of its credit agreement, whereby it intends to obtain a $2.2 billion new term B loan facility and a new $800 million revolving credit facility.

The company plans to use the net proceeds from the Notes offering and the New Term B Loan Facility, together with borrowings under the New Revolving Credit Facility, to repay certain outstanding borrowings under its existing revolving credit facility, to refinance in full its outstanding term A loans due 2027 and term B loans due 2027, and to pay related fees and expenses, with any remaining amounts to be used for general corporate purposes.