---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-012545"
form_type: "8-K"
ticker: "BAX"
cik: "0000010456"
company_name: "BAXTER INTERNATIONAL INC"
filed_at: "2024-03-21T23:59:59+00:00"
generated_at: "2026-06-04T09:30:21.716957+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Baxter amends credit agreements to ease net leverage ratio through Q3 2025

## Summary
- Amends $4.0B term loan and $2.5B revolver to increase max net leverage ratio for six quarters ending June 2024–Sep 2025.
- Revolving commitments will reduce to $2.0B on Sep 30, 2024 or upon sale/spinoff of Kidney Care business.
- €200M credit facility guaranty also amended to raise net leverage ratio cap over same period.

## SEC filing metadata
- accession: 0001628280-24-012545
- form_type: 8-K
- ticker: BAX
- cik: 0000010456
- company_name: BAXTER INTERNATIONAL INC
- filed_at: 2024-03-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10456/000162828024012545/0001628280-24-012545-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10456/000162828024012545/bax-20240321.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-012545
- JSON: https://secwatch.observer/filing/0001628280-24-012545.json
- Plain text: https://secwatch.observer/filing/0001628280-24-012545.txt

## Key facts
- Material Agreements
  BAXTER INTERNATIONAL INC amended USD Revolving Fourth Amendment with various lenders and JPMorgan Chase Bank, National Association, as Administrative Agent (effective 2024-03-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: various lenders and JPMorgan Chase Bank, National Association, as Administrative Agent
  - Effective: 2024-03-21
  source text: On March 21, 2024, Baxter entered into a fourth amendment (the “ USD Revolving Fourth Amendment ”) to the existing $2.5 billion, five-year revolving credit agreement, dated as of September 30, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000162828024012545/0001628280-24-012545-index.htm
- Material Agreements
  BAXTER INTERNATIONAL INC amended Term Loan Fourth Amendment with various lenders and JPMorgan Chase Bank, National Association, as Administrative Agent (effective 2024-03-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: various lenders and JPMorgan Chase Bank, National Association, as Administrative Agent
  - Effective: 2024-03-21
  source text: On March 21, 2024, Baxter International Inc. (“ Baxter ”) entered into a fourth amendment (the “ Term Loan Fourth Amendment ”) to the existing $4.0 billion term loan credit facility, dated as of September 30, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000162828024012545/0001628280-24-012545-index.htm
- Material Agreements
  BAXTER INTERNATIONAL INC amended Euro Amendment with Baxter Healthcare SA and Baxter World Trade SRL, as Borrowers, their existing lender group, Baxter, as Guarantor, and J.P. Morgan SE, as Administrative Agent (effective 2024-03-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Baxter Healthcare SA and Baxter World Trade SRL, as Borrowers, their existing lender group, Baxter, as Guarantor, and J.P. Morgan SE, as Administrative Agent
  - Effective: 2024-03-21
  source text: On March 21, 2024, Baxter Healthcare SA and Baxter World Trade SRL, as Borrowers (the “ Euro Borrowers ”), their existing lender group, Baxter, as Guarantor, and J.P. Morgan SE, as Administrative Agent, entered into a third guaranty amendment (the “ Euro Amendment ”) to the existing amended and restated guaranty agreement, dated as of October 1, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000162828024012545/0001628280-24-012545-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.