Baxter amends credit agreement to raise net leverage cap to 4.25x through Q2 2026

BAXTER INTERNATIONAL INC

Amendment No. 1 to five-year credit agreement dated Nov 25, 2025 relaxes net leverage ratio covenant.
Maximum net leverage set at 4.25x for quarters ending Dec 2025, Mar 2026, Jun 2026; 4.00x for Sep 2026; 3.75x thereafter.
JPMorgan Chase is Administrative Agent; multiple banks including Bank of America, Citibank, Deutsche Bank are lenders.
No event of default occurred; representations reaffirmed as of effective date.

Key facts

Extracted from this filing and checked against the source text.

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

BAXTER INTERNATIONAL INC amended Amendment No. 1 with JPMorgan Chase Bank, N.A., as Administrative Agent (effective 2025-11-25).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
Effective: 2025-11-25

Exact text from the filing

On November 25, 2025, Baxter International Inc. (“ Baxter ”) entered into an amendment (“ Amendment No. 1 ”) to the amended and restated five-year credit agreement dated June 11, 2025, among Baxter, as Borrower Representative, Baxter Healthcare SA and Baxter World Trade SRL, as Borrowers, various lenders and JPMorgan Chase Bank, N.A., as Administrative Agent (as amended by Amendment No. 1, the “ Amended Credit Agreement ”).

View on SEC.gov

Browse all material agreements →

BAXTER INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001628280-25-054015

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.