Bausch Health Companies (NYSE:BHC) Enters into Second Incremental Amendment with Bausch + Lomb

Bausch Health Companies Inc. recently announced that its subsidiary, Bausch + Lomb Corporation, has entered into the Bausch + Lomb Second Incremental Amendment. This amendment, dated November 1, 2024, pertains to the credit and guaranty agreement that was originally established on May 10, 2022. The Bausch + Lomb Second Incremental Amendment involves various key aspects, including new term loans and financial arrangements.

Under this agreement, Bausch + Lomb has borrowed $400,000,000 of new term loans, known as the Bausch + Lomb Second Incremental Term Loans. These term loans are set to mature on May 10, 2027, with scheduled quarterly amortization installments starting from the fiscal quarter ending March 31, 2025. The repayment structure includes specific percentages of the original principal amount to be paid over time, with a final balance due upon maturity.

The borrowed amount will be utilized partly to repay outstanding revolving loans under the Bausch + Lomb Credit Agreement, with the remainder allocated for general corporate purposes. The Bausch + Lomb Second Incremental Term Loans carry an interest rate per annum, offering flexibility to the borrower to select between a base rate or term SOFR, along with applicable margin rates.

While the Bausch + Lomb Second Incremental Amendment brings these financial changes, it’s important to note that the basic terms of the Bausch + Lomb Credit Agreement remain intact unless superseded by this recent amendment. For a more comprehensive understanding of the specifics related to this amendment, interested parties are encouraged to refer to the full text of the Bausch + Lomb Credit Agreement, as amended by the Bausch + Lomb Second Incremental Amendment, detailed in Exhibit 10.1 of the Current Report on Form 8-K.

The creation of these financial obligations and off-balance sheet arrangements by Bausch Health Companies and its subsidiary, Bausch + Lomb, further solidifies their ongoing commitment to financial strategies and growth initiatives.

This article is a brief summary of the recent 8-K SEC filing by Bausch Health Companies, providing insights into the company’s financial updates and agreements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bausch Health Companies’s 8K filing here.

Bausch Health Companies Company Profile

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.