Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 68

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 68
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, 2025 and 2024, respectively, an increase of $19 million. The increase is primarily attributable to net borrowings under the Revolving Credit Facility (as defined below). For the three months ended March 31, 2025, issuances of long-term debt, net of discounts were $50 million, representing borrowings under the Revolving Credit Facility. For the three months ended March 31, 2024, issuances of long-term debt, net of discounts were $75 million, related to borrowings under the Revolving Credit Facility (each as defined below), offset by $50 million of repayments under the Revolving Credit Facility.Liquidity and DebtFuture Sources of LiquidityOur primary sources of liquidity are expected to be our cash and cash equivalents, cash collected from customers, funds as needed from our Revolving Credit Facility, and issuances of other long-term debt, additional equity and equity-linked securities. We believe these sources will be sufficient to meet our current liquidity needs for the next twelve months, and be sufficient to support our future cash needs; however, we can provide no assurance that our liquidity and capital resources will meet future funding requirements or, as discussed in the Forward-Looking Statements section of this Form 10-Q, of our ability to comply with, or if necessary, obtain a waiver or amendment of, the financial and other covenants contained in our Amended Credit Agreement.The global financial markets recently have undergone and may continue to experience significant volatility and disruption. The timing and sustainability of an economic recovery is uncertain and additional macroeconomic, business and financial disruptions may arise. As markets change, there can be no assurance that the challenging economic environment or a further economic downturn would not impact our liquidity or our ability to obtain future financing on reasonable terms or at all.We regularly evaluate market conditions, our liquidity profile and various financing alternatives for opportunities to enhance our capital structure. If opportunities are favorable, we may from time to time enter into new financing arrangements, refinance the Senior Secured Credit Facilities (as defined below) or repurchase debt, or issue additional equity and equity-linked securities.

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Long-term DebtOn May 10, 2022, in connection with the B+L IPO and in order to properly capitalize our business, Bausch + Lomb entered into a credit agreement (the “ Original Credit Agreement”). 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