Bausch & Lomb gets extension of waiver regarding any potential defaults

By Sara Rosenberg

New York, Aug. 31 - Bausch & Lomb Inc. received an extension of its credit facility waiver that was obtained as a precaution against any potential default, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The waiver has been extended to Dec. 15 from Oct. 2.

As consideration for the extension, the company will pay a fee equal to 0.10% of its aggregate commitments to each lender that executed the amendment.

Payment of the monthly fee will be due on Oct. 3 and on the first day of each month thereafter that the company is delayed in filing its financial statements until the waiver termination date.

The waiver extension was completed on Aug. 28.

Bausch & Lomb is a Rochester, N.Y., developer, manufacturer and marketer of eye health products.

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