Baxter enters $2.05B credit agreement for refinancing and Kidney Care separation costs

BAXTER INTERNATIONAL INC

Credit Agreement with JPMorgan, BofA, Citibank provides up to $2.05B senior unsecured term loans.
Proceeds to refinance 1.322% Senior Notes due Nov 2024, Floating Rate Notes due Nov 2024, and existing term loan tranche.
Funds also cover U.S. tax liabilities from internal restructuring ahead of planned Kidney Care business separation.
Maturity 364 days from first funding or Nov 24, 2025; includes net leverage ratio covenant.
Ticking fee accrues on undrawn commitments at rate based on Baxter's long-term debt ratings.

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