Item 1.01. Entry into a Material Definitive Agreement.
On
The Revolving Credit Agreement provides Abbott with the ability to borrow up to
Abbott's borrowings under the Revolving Credit Agreement will bear interest, at Abbott's option, based on either a base rate or a Eurodollar rate, plus an applicable margin based on Abbott's credit ratings in effect from time to time. Abbott will also pay to the lenders under the Revolving Credit Agreement certain customary fees.
The Revolving Credit Agreement contains representations and warranties and affirmative and negative covenants customary for unsecured financings of this type as well as customary events of default.
The foregoing description of the Revolving Credit Agreement is qualified in its
entirety by reference to the full text of the Revolving Credit Agreement, a copy
of which will be filed with Abbott's Annual Report on Form 10-K for the year
ended
Some of the lenders under the Revolving Credit Agreement and/or their respective affiliates have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending and/or commercial banking services, or other services for Abbott and its subsidiaries, for which they have received, and may in the future receive, customary compensation and expense reimbursement.
Item 1.02. Termination of a Material Definitive Agreement.
In connection with its entry into the Revolving Credit Agreement, on the
Effective Date Abbott terminated all commitments outstanding under the Five Year
Credit Agreement, dated
The Existing Credit Agreement provided Abbott with the ability to borrow up to
Some of the lenders under the Existing Credit Agreement and/or their respective affiliates have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending and/or commercial banking services, or other services for Abbott and its subsidiaries, for which they have received, and may in the future receive, customary compensation and expense reimbursement.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure contained in Item 1.01 is incorporated in this Item 2.03 by reference.
2
© Edgar Online, source