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

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 25
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79 88 Interest64 35 Professional Fees59 59 Advertising and Promotion57 52 Discounts and Allowances53 64 Other313 316 $1,259 $1,309 10.FINANCING ARRANGEMENTSPrincipal amounts of debt obligations and principal amounts of debt obligations net of issuance costs consist of the following:

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March 31, 2025December 31, 2024(in millions)MaturityPrincipal AmountNet of Issuance CostsPrincipal AmountNet of Issuance CostsSenior Secured Credit FacilitiesRevolving Credit FacilityMay 2027$160 $160 $110 $110 May 2027 Term FacilityMay 20272,431 2,406 2,437 2,410 May 2027 Incremental Term FacilityMay 2027398 394 400 396 September 2028 Term FacilitySeptember 2028492 485 494 486 Senior Secured NotesOctober 2028 Secured NotesOctober 20281,400 1,384 1,400 1,382 Total long-term debt$4,881 4,829 $4,841 4,784 Less: Current portion of long-term debt40 40 Non-current portion of long-term debt$4,789 $4,744 Senior Secured Credit Facilities and NotesOn May 10, 2022, Bausch + Lomb entered into a credit agreement (the “Original Credit Agreement”). Prior to the September 2023 Credit Facility Amendment (as defined below), the Original Credit Agreement provided for a term loan of $2,500 million with a five-year term to maturity (the “May 2027 Term Facility”) and a five-year revolving credit facility of $500 million (the “Revolving Credit Facility”). At March 31, 2025, the stated rate of interest under the May 2027 Term Facility was 7.67% per annum, and 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