Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 108

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 108
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 revolving credit facility of $500 million (the “Revolving Credit Facility”). As of March 31, 2025, the principal amount outstanding under the May 2027 Term Facility was $2,431 million and the stated rate of interest under the May 2027 Term Facility was 7.67% per annum. The remaining mandatory quarterly amortization payments for the May 2027 Term Facility were $50 million through March 2027, with the remaining term loan balance being due in May 2027. As of March 31, 2025, the Company had $160 million of outstanding borrowings, $36 million of issued and outstanding letters of credit and remaining availability, subject to certain customary conditions, of $304 million under its Revolving Credit Facility. The stated rate of interest for borrowings under the Revolving Credit Facility at March 31, 2025 ranges from 7.16% to 7.17%  per annum.On September 29, 2023, Bausch + Lomb entered into an incremental term loan facility secured on a pari passu basis with the Company’s existing May 2027 Term Facility. This incremental term loan facility was entered into in the form of an incremental amendment (the "September 2023 Credit Facility Amendment") to the Original Credit Agreement (the Original Credit Agreement, as amended by the September 2023 Credit Facility Amendment, the “Initial Amended Credit Agreement”) and consisted of borrowings of $500 million in new term B loans with a five-year term to maturity (the "September 2028 Term Facility"). As of March 31, 2025, the principal amount outstanding under the September 2028 Term Facility was $492 million and the stated rate of interest under the September 2028 Term Facility was 8.32% per annum. The remaining mandatory quarterly amortization payments for the September 2028 Term Facility were $16 million through June 2028, with the remaining term loan balance being due in September 2028.On November 1, 2024, Bausch + Lomb entered into an additional incremental term loan facility secured on a pari passu basis with the Company’s existing May 2027 Term Facility and September 2028 Term Facility. This incremental term loan facility was entered into in the form of an incremental amendment (the “November 2024 Credit Facility Amendment”) to the Initial Amended Credit Agreement (the Initial Amended Credit Agreement, as amended by