secwatch.observer — SEC 8-K summary
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Issuer:     BIOGEN INC. (BIIB)
CIK:        0000875045
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0001193125-24-200660
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Biogen enters $1.5B unsecured revolving credit facility, terminates prior facility
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- $1.5B five-year unsecured revolving credit facility; no borrowings drawn at closing.
- Replaces 2020 credit agreement; no outstanding loans at termination.
- Interest rates based on credit ratings: Term SOFR + 0.625%-1.375%; commitment fee 0.05%-0.15%.
- Financial covenant: max consolidated leverage ratio of 3.75:1 (4.25:1 after material acquisition).
- Matures August 2029, includes $25M letter of credit sublimit, $20M swing line.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/875045/000119312524200660/0001193125-24-200660-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/875045/000119312524200660/d867868d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-200660

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