secwatch.observer — SEC 8-K summary
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Issuer:     BAXTER INTERNATIONAL INC (BAX)
CIK:        0000010456
Form:       8-K
Filed at:   2024-07-18T23:59:59+00:00
Accession:  0001193125-24-181060
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10456/000119312524181060/0001193125-24-181060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10456/000119312524181060/d867131d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-181060

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