Item 1.01. Entry into a Material Definitive Agreement.
On
Advances under the revolving credit agreement will bear interest at an annual
rate of, at our option, either (i) the applicable LIBOR rate (or EURIBOR rate
for certain advances denominated in Euros) plus between 0.700% and 1.125%,
depending on the rating of our senior long-term unsecured debt or (ii) the
highest of (A) Citibank's base commercial lending rate, (B) the overnight
federal funds rate plus 0.50% and (C) one month LIBOR plus 1.00%, plus between
0.000% and 0.125%, depending on the rating of our senior long-term unsecured
debt. The revolving credit agreement contains provisions relating to the
determination of successor rates to address the possible phase-out or
unavailability of designated reference rates under the revolving credit
agreement. We have also agreed to pay a fee for committed funds under the
revolving credit agreement, whether used or unused, of between 0.05% and
0.125% per annum depending on the rating of our senior long-term unsecured debt.
The revolving credit agreement includes a
The revolving credit agreement contains customary affirmative and negative covenants, including limitations on mergers, consolidations and sales of assets; limitations on liens and sales and leasebacks; limitations on transactions with affiliates and limitations on subsidiary indebtedness. In addition, the revolving credit agreement requires maintenance of a minimum consolidated interest coverage ratio of EBITDA to total interest expense, each on a consolidated basis.
The description of the revolving credit agreement above does not purport to be complete and is qualified in its entirety by reference to the revolving credit agreement, which is filed as Exhibit 10.1 to this report.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Document Description 10.1 Second Amended and Restated Credit Agreement, dated as ofDecember 12, 2019 , amongAmgen Inc. , the Banks therein named,Citibank, N.A ., as Administrative Agent, andJPMorgan Chase Bank, N.A ., as Syndication Agent. 104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document).
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