Bausch & Lomb seeks extends solicitation for notes due 2023

By Laura Lutz

Washington, Jan. 31 - Bausch & Lomb extended its consent solicitation for six series of notes, including two issues of convertibles, to 5 p.m. ET on Feb. 7 from Feb. 6.

The solicitation applies to $155.902 million outstanding principal amount of 2004 senior convertible securities due 2023; $4.098 million of floating-rate convertible senior notes due 2023; $133.195 million of 6.95% senior notes due 2007; $50 million of 5.9% senior notes due 2008; $421,000 of 6.56% medium-term notes, series B, due 2026; and $66.429 million of 7 1/8% debentures due 2028, according to an 8-K filing with the Securities and Exchange Commission.

The company is seeking consents to amend the note indentures to extend to April 30 the deadline to file periodic reports with the Securities and Exchange Commission and to deliver compliance certificates to the trustee.

Consenting noteholders will receive $1.00 for each $1,000 principal amount of notes.

The company previously announced that it would not file its 10-Q for the quarter ended Sept. 24, 2005; its 10-K for the year ended Dec. 31, 2005; or its 10-Q filings for 2006 on time.

Holders of a majority of each series of notes earlier waived any resulting defaults through Jan. 31, according to the 8-K filing.

Bausch & Lomb is an eye health company based in Rochester, N.Y.

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