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Banks and private credit firms compete for $5bn Bausch + Lomb debt financing

Banks and private credit firms are vying to provide over $5bn in debt financing to support a potential buyout of eye care company and Ray-Ban owner Bausch + Lomb, by Blackstone and TPG, according to a report by Bloomberg.

The report cites insiders familiar with the deal as highlighting that the transaction could value the company at a minimum of $10bn, including debt.

Bausch + Lomb has been exploring a sale, with Blackstone and TPG reportedly working on a joint bid. However, there’s no guarantee that a deal will materialise, as talks could fall through without a sale.

Neither Bausch + Lomb nor Blackstone commented on the ongoing discussions, and TPG did not respond to requests for comment. The financing details were first reported by Debtwire.

If finalised, the $5bn debt package could rank as one of the largest deals arranged by private credit firms. In 2022, private lenders arranged $5.3bn to refinance fintech firm Finastra Group Holdings Ltd, and €4.75bn ($5.1bn) for the buyout of European classifieds company Adevinta ASA.

 

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