ILLUMINA, INC. (ILMN): debt financing — Illumina enters $750M senior unsecured revolving credit facility, replaces prior agreement

ILLUMINA, INC.

New 5-year credit facility with Bank of America as administrative agent; matures Jan 4, 2028, with two optional 1-year extensions.
Interest rate based on Term SOFR or alternate base rate plus spread tied to debt ratings; initial pricing at Level III (1.125% SOFR spread).
Proceeds for working capital and general corporate purposes; no borrowings outstanding at signing.
Includes option to increase commitments by up to $250M subject to lender consent.
Replaces and terminates previous $750M credit agreement dated March 8, 2021.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ILLUMINA, INC. incurred revolving credit of $750 million with Bank of America, N.A. and other lenders maturing January 4, 2028.

Instrument: revolving credit
Principal: $750 million
Counterparty: Bank of America, N.A. and other lenders
Maturity: January 4, 2028
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a $750 million senior unsecured five-year revolving credit facility (with a $40 million sublimit for swingline borrowings and a $50 million sublimit for letters of credit) (the "Credit Facility").

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ILLUMINA, INC. terminated Existing Credit Agreement with Bank of America, N.A., as administrative agent, an issuing bank and the swingline lender (effective 2023-01-04).

Action: termination
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, an issuing bank and the swingline lender
Effective: 2023-01-04

Exact text from the filing

(“Illumina” or the “Company”) entered into a credit agreement (the “Credit Agreement”) among the Company, as the borrower, the lenders from time to time party thereto, Bank of America, N.A., as administrative agent, an issuing bank and the swingline lender, and the other issuing banks from time to time party thereto.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ILLUMINA, INC. entered into Credit Agreement with Bank of America, N.A., as administrative agent, an issuing bank and the swingline lender valued at $750 million (effective 2023-01-04).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, an issuing bank and the swingline lender
Value: $750 million
Effective: 2023-01-04

Exact text from the filing

On January 4, 2023, Illumina, Inc. (“Illumina” or the “Company”) entered into a credit agreement (the “Credit Agreement”) among the Company, as the borrower, the lenders from time to time party thereto, Bank of America, N.A., as administrative agent, an issuing bank and the swingline lender, and the other issuing banks from time to time party thereto.

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13 debt financings filed in the last 30 days. Browse all debt financings →

ILLUMINA, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-001536

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