Baxter issues $2B in senior notes; launches tender offers for 2026 and 2027 notes

BAXTER INTERNATIONAL INC

Issued $300M 4.450% notes due 2029, $700M 4.900% notes due 2030, and $1B 5.650% notes due 2035.
Net proceeds of ~$1.99B used to repay term loan and fund tender offers for 2026 and 2027 notes.
Tender offers: $420.6M of 2026 notes tendered; $1.089B of 2027 notes tendered, prorated to ~$614.4M accepted.
Repaid all outstanding obligations under Term Loan Credit Agreement on December 4, 2025.
Tender offers priced at fixed spreads: 2026 notes at +30 bps, 2027 notes at +40 bps over UST yields.

item 1.01 item 8.01 item 1.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BAXTER INTERNATIONAL INC incurred senior notes of $700,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 4.900% maturing December 15, 2030.

Instrument: senior notes
Principal: $700,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.900%
Maturity: December 15, 2030
Event: incurrence

Exact text from the filing

$700,000,000 aggregate principal amount of the Company’s 4.900% Senior Notes due 2030

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BAXTER INTERNATIONAL INC incurred senior notes of $1,000,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 5.650% maturing December 15, 2035.

Instrument: senior notes
Principal: $1,000,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.650%
Maturity: December 15, 2035
Event: incurrence

Exact text from the filing

$1,000,000,000 aggregate principal amount of the Company’s 5.650% Senior Notes due 2035

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BAXTER INTERNATIONAL INC incurred senior notes of $300,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 4.450% maturing February 15, 2029.

Instrument: senior notes
Principal: $300,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.450%
Maturity: February 15, 2029
Event: incurrence

Exact text from the filing

the issuance by the Company of $300,000,000 aggregate principal amount of the Company’s 4.450% Senior Notes due 2029

View on SEC.gov

306 debt financings filed in the last 30 days. Browse all debt financings →

BAXTER INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001628280-25-055359

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