GE HealthCare Technologies Inc. (GEHC): debt financing — GE HealthCare enters $1.0B 364-day revolver, terminates prior facility

GE HealthCare Technologies Inc.

New $1.0B unsecured revolving credit facility matures Dec 11, 2024, with Citibank as agent.
Borrowings available in USD and EUR at SOFR or EURIBOR plus margin tied to debt ratings.
Prior $1.0B 364-day facility dated Nov 4, 2022 terminated Dec 13, 2023 without penalty.
Credit agreement includes customary covenants (leverage ratio, liens, subsidiary indebtedness) and events of default.

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

GE HealthCare Technologies Inc. incurred revolving credit of $1.0 billion with Citibank, N.A., as administrative agent at alternate base rate or adjusted Term SOFR rate plus an applicable margin maturing December 11, 2024.

Instrument: revolving credit
Principal: $1.0 billion
Counterparty: Citibank, N.A., as administrative agent
Rate: alternate base rate or adjusted Term SOFR rate plus an applicable margin
Maturity: December 11, 2024
Event: incurrence

Exact text from the filing

On December 13, 2023, GE HealthCare Technologies Inc. (the “Company”) entered into a 364-Day Revolving Credit Agreement (the “364-Day Revolving Credit Agreement”) among the Company, Citibank, N.A., as administrative agent, and the lenders named therein (the “Lenders”), which provides for a 364-day senior unsecured revolving credit facility in an aggregate committed amount of $1.0 billion.

View on SEC.gov

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

GE HealthCare Technologies Inc. terminated 364-Day Revolving Credit Agreement with Citibank, N.A., as administrative agent, and the lenders named therein valued at $1.0 billion (effective 2023-12-13).

Action: termination
Agreement: credit facility
Counterparty: Citibank, N.A., as administrative agent, and the lenders named therein
Value: $1.0 billion
Effective: 2023-12-13

Exact text from the filing

On December 13, 2023, in connection with its entry into the 364-Day Revolving Credit Agreement, the Company terminated the 364-Day Revolving Credit Agreement, dated as of November 4, 2022, among the Company, Citibank, N.A., as administrative agent, and the lenders named therein, which provided for a $1.0 billion 364-day senior unsecured revolving credit facility that was scheduled to mature on January 2, 2024.

View on SEC.gov

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

GE HealthCare Technologies Inc. entered into 364-Day Revolving Credit Agreement with Citibank, N.A., as administrative agent, and the lenders named therein valued at $1.0 billion (effective 2023-12-13).

Action: entry
Agreement: credit facility
Counterparty: Citibank, N.A., as administrative agent, and the lenders named therein
Value: $1.0 billion
Effective: 2023-12-13

Exact text from the filing

On December 13, 2023, GE HealthCare Technologies Inc. (the “Company”) entered into a 364-Day Revolving Credit Agreement (the “364-Day Revolving Credit Agreement”) among the Company, Citibank, N.A., as administrative agent, and the lenders named therein (the “Lenders”), which provides for a 364-day senior unsecured revolving credit facility in an aggregate committed amount of $1.0 billion.

View on SEC.gov

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GE HealthCare Technologies Inc. filing history →

Source: SEC EDGAR

accession 0001932393-23-000133

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