Company: BLCO
Filing Date: 2025-06-27
Form Type: 8-K
Source: 0001193125-25-149726
Chunk: 3

Company: Bausch & Lomb Corp
Filing Date: 2025-06-27
Form: 8-K
Item: Item 1.01
Chunk 3
---
 JPMorgan Chase Bank, N. A. as successor collateral agent, swingline lender and an issuing bank. Terms used herein, but not otherwise defined herein are as defined in the Credit Agreement as amended by the Third Amendment.

The Third Amendment provides for (i) a new $2,325 million tranche of term loans maturing in 2031 (the “ Refinancing Term Loans”), the proceeds of which were used, together with the proceeds of the Notes, to (A) refinance all of the Company’s outstanding term B loans due 2027, (B) refinance all of the Company’s outstanding term A loans due 2027 and (C) repay in full borrowings under the Company’s existing revolving credit facility outstanding immediately prior to the effective date of the Third Amendment (the “ Effective Date”) and (ii) a new revolving credit facility of $800 million maturing in 2030 (subject to customary “springing” maturity provisions) (the “ New Revolving Credit Facility”), which replaced the Company’s existing revolving commitments of $500 million. The amortization rate for the Refinancing Term Loans is 1.00% per annum and the first installment shall be payable on September 30, 2025. Pursuant to the Third Amendment, the applicable rate per annum is (i) 4.25% for Refinancing Term Loans that bear interest at a term SOFR-based rate, (ii) 3.25% for Refinancing Term Loans that bear interest at a U. S. dollar base rate, (iii) between 1.75% and 2.75% for revolving loans under the New Revolving Credit Facility that bear interest at a term SOFR, term CORRA, EURIBOR or SONIA-based rate, in each case, based on the Company’s total net leverage ratio, and (iv) between 0.75% and 1.75% for revolving loans under the New Revolving Credit Facility that bear interest at a U. S. dollar base rate or a Canadian dollar base rate, in each case, based on the Company’s total net leverage ratio.

The Third Amendment also amended the Credit Agreement to (A) adjust the financial covenant levels applicable to the new revolving credit facility to a maximum first lien net leverage ratio of 5.75:1.00 (stepping down to (i) 5.50:1.00 commencing with the ninth full fiscal quarter after the Effective Date, (ii