Bausch & Lomb

Ophthalmology firm commences exchange offer for convertible securities

Published in Managed Care Law Weekly, December 19th, 2004

Bausch & Lomb (BOL) announced that it is offering to exchange up to $160 million aggregate principal amount of its outstanding Floating Rate Convertible Senior Notes due 2023 for an equal amount of its 2004 Senior Convertible Securities due 2023.

Bausch & Lomb is offering to exchange $1,000 of principal amount of the New Securities plus a cash payment of $2.50 for each $1,000 of principal amount of the Old Notes.

The terms of the New Securities are consistent with those of the Old Notes except that (i) the settlement upon conversion of the New Securities will be paid in cash up to the principal amount of the converted New Securities with any excess...

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Source: Managed Care Law Weekly (2004-12-19)

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