Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bausch & Lomb Escrow Corp. > News item |
Bausch + Lomb talks $1.4 billion five-year secured notes to yield in 8½% area; pricing Thursday
By Paul A. Harris
Portland, Ore., Sept. 13 – Bausch + Lomb Corp. talked its $1.4 billion offering of Bausch + Lomb Escrow Corp. senior secured notes due 2028 (B1/B-/BB) to yield in the 8½% area, according to market sources.
Official talk comes inside of initial guidance in the high-8% area.
The Rule 144A and Regulation S deal is set to price on Thursday.
The notes come with two years of call protection.
JPMorgan is leading the notes sale.
The Vaughan, Ont.-based producer of eye care and ophthalmological products and instruments plans to use the proceeds plus a $500 million term loan to finance its acquisition of Xiidra (lifitegrast ophthalmic solution) 5%, and certain other ophthalmological assets, and for general corporate purposes, which may include debt repayment.
Xiidra is a non-steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease focusing on inflammation associated with dry eye.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.