Bausch & Lomb Corp 8-K

What Happened

• Bausch & Lomb Corporation announced on January 2, 2026 that it entered into a Fourth Amendment to its Credit and Guaranty Agreement and obtained a new $2,802,125,000 tranche of term loans (the "Replacement Term Loans"). The new loans were used to refinance the Company’s outstanding term B loans due 2031 and term B loans due 2028.
• The Replacement Term Loans mature on January 15, 2031 and are governed under the existing credit facility administered by JPMorgan Chase Bank, N.A. A press release announcing the closing was issued the same day.

Key Details

• Principal amount: $2,802,125,000 in Replacement Term Loans (effective January 2, 2026).
• Maturity: January 15, 2031 (this preserves the 2031 maturity for prior 2031 loans and extends the 2028 loans to 2031).
• Interest and margins: applicable margin is 3.75% per annum for loans priced to term SOFR and 2.75% per annum for loans priced to the alternate base rate.
• Amortization: 1.00% per annum with the first installment due June 30, 2026.
• Margin reductions versus replaced tranches: 0.50% lower than the Third Amendment Term Loans and 0.25% lower than the First Incremental Term Loans.

Why It Matters

• This transaction creates a new direct financial obligation and changes the company’s debt profile by extending maturities for certain borrowings to 2031, which reduces near-term refinancing risk for those loans.
• The reduced margins could lower Bausch & Lomb’s interest costs on the refinanced debt compared with the prior tranches, while the 1% amortization schedule begins mid-2026 and will affect future cash outflows.
• Investors should consider the impact on the company’s leverage, interest expense and cash flow timing; the filing and attached press release provide the formal terms for review.