Full Press Release Details
Bausch + Lomb Completes Refinancing of Outstanding
VAUGHAN, Ontario, Jan. 2, 2026 -
Bausch + Lomb Corporation (NYSE/TSX: BLCO) ("Bausch + Lomb" or the "company"), a leading global eye health company
dedicated to helping people see better to live better, today announced that it closed the previously announced credit agreement refinancing.
In connection with the closing, Bausch + Lomb has entered into a fourth amendment (the "Fourth Amendment") to its existing
credit agreement providing for a $2,802,125,000 tranche (the "Replacement Term Loans") of new term B loans, the proceeds
of which were used to refinance all of its outstanding term B loans due 2031 (the "Third Amendment Term Loans") and its outstanding
term B loans due 2028 (the "First Incremental Term Loans").
The amortization rate for the Replacement
Term Loans is 1.00% per annum and the first installment shall be payable on June 30, 2026. Pursuant to the Fourth Amendment, the applicable
margin is (i) 3.75% per annum for Replacement Term Loans with an interest rate determined by reference to term SOFR and (ii) 2.75% per
annum for Replacement Term Loans with an interest rate determined by reference to the alternate base rate. The margin applicable to the
Replacement Term Loans represents a 0.50% per annum reduction from the applicable margin that applied to the Third Amendment Term Loans
and a 0.25% per annum reduction from the applicable margin that applied to the First Incremental Term Loans. The Replacement Term Loans
will mature on January 15, 2031, which is the same maturity date that applied to the Third Amendment Term Loans and which represents
an effective maturity extension of the First Incremental Term Loans from September 29, 2028.
Our mission is simple - we help
people see better to live better, all over the world. For nearly two centuries we've evolved with the changing needs of patients
and customers, and our commitment to innovation and improving the standard of care in eye health has never been stronger. From contact
lenses to prescription products, over-the-counter options, surgical devices and more, we're turning bold ideas into better outcomes
through passion, perseverance and purpose. Learn more at www.bausch.com and connect with us on Facebook, Instagram, LinkedIn, X and YouTube.
Forward-looking Statements
This news release may contain forward-looking
information and statements within the meaning of applicable securities laws (collectively, "forward-looking statements").
Forward-looking statements may generally be identified by the use of the words "anticipates," "seeks," "expects,"
"plans," "should," "could," "would," "may," "will," "believes,"
"potential," "pending" or "proposed" and variations or similar expressions. These statements are
based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual
results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not
limited to, the risks and uncertainties discussed in Bausch + Lomb's filings with the U.S. Securities and Exchange Commission and
the Canadian Securities Administrators (including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2024 and
its most recent quarterly filings). In addition, certain material factors and assumptions have been applied in making these forward-looking
statements, including the assumption that the risks and uncertainties discussed in such filings will not cause actual results or events
to differ materially from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on any
of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch + Lomb undertakes no obligation
to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect
actual outcomes, unless required by law.
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