Bausch & Lomb in Financing Transaction

March 19, 2013

Cleary Gottlieb represented Bausch & Lomb in the financing of a new “Holdco” senior unsecured term loan facility. The $700 million term loan facility closed on March 19. The proceeds of the new facility, together with a $100 million revolver borrowing under Bausch & Lomb’s existing credit facilities, were used to finance a $772 million dividend payment to Bausch & Lomb’s shareholders and a separate payment to certain option holders. These transactions were completed in connection with the planned IPO of Bausch & Lomb, to occur later this year.

Bausch & Lomb was founded in 1853 and is one of the best-known and most respected healthcare companies in the world, with products available in more than 100 countries.