Company: BLCO
Filing Date: 2025-06-18
Form Type: 8-K
Source: 0000950103-25-007603
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Company: Bausch & Lomb Corp
Filing Date: 2025-06-18
Form: 8-K
Item: Item 8.01
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Item 8.01      Other Events.  

Secured Notes Offering

On June 18, 2025, Bausch + Lomb Corporation (the
“ Company” or “ Bausch + Lomb”) announced that its subsidiaries, Bausch & Lomb Incorporated, a New York corporation
(the “ U. S. Co-Issuer”), and Bausch+Lomb Netherlands B. V. a private company with limited liability ( besloten vennootschap
met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands (the “ Dutch Co-Issuer” and, together with
U. S. Co-Issuer, the “ Issuers”), priced the offering of €675 million aggregate principal amount of senior secured floating
rate notes due 2031 (“ Notes”). The size of the offering was increased from the previously announced €600 million aggregate
principal amount of Notes. The Notes will be sold to investors at a price of 99.500% of the principal amount thereof.

As previously announced, the Company is also
seeking to partially refinance its credit agreement, whereby the Company intends to obtain a $2.325 billion new term B loan facility
(the “ New Term B Loan Facility”) and a new $800 million revolving credit facility (the “ New Revolving Credit
Facility”). The New Term B Loan is expected to accrue interest
at a rate of Term SOFR + 4.25% per annum. The allocated size of the New Term B Loan Facility was increased from the previously announced
$2.2 billion. The Company intends to use the net proceeds from the Notes offering and the New Term B Loan Facility to repay in
full the 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.

The closing of the Notes offering is not contingent
upon the closing of the New Term B Loan Facility or the New Revolving Credit Facility.

The Notes will be guaranteed by the Company and
each of the Company’s subsidiaries (other than the Issuers) that are guarantors under the Company’s credit agreement and will
be secured on a first priority basis by liens on the same assets that secure the obligations under the Company’s credit agreement
and the Company’s 8.375% senior secured notes due 2028.

Closing of the Notes offering is expected to occur on June