Bausch + Lomb freed from covenants restricting Bausch Healthcare debt

By Devika Patel

Knoxville, Tenn., Dec. 2 – Bausch + Lomb is no longer restricted by covenants on parent company Bausch Healthcare’s debt.

The two companies separated earlier this year and part of the separation agreement specified that Bausch + Lomb would no longer guarantee Bausch Healthcare’s debt.

“[In May of 2022,] we specified that B&L would not be a guarantor of Bausch Healthcare debt and then, now, as we sit here today, our parent has unrestricted B&L,” chief executive officer Joseph C. Papa said at the 5th Annual Evercore ISI HealthCONx Conference on Wednesday.

“That means that we’re unrestricted from the Bausch Healthcare debt covenants.

“I think it’s continued progress and our parent is continuing to make progress as well on their debt issues,” he said.

Bausch + Lomb is a Vaughan, Ont.-based eye health company.

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