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Abbott Enters $5B Credit Agreement

NEW YORK – In a document filed with the US Securities and Exchange Commission on Thursday, Abbott Laboratories said it had entered a five-year, $5 billion revolving credit agreement with JP Morgan Chase as the administrative agent.

Under the agreement, Abbott can borrow up to $5 billion on an unsecured basis and any borrowings will mature and be payable five years from the effective date, Nov. 12, 2020. The borrowings will bear interest based on either a base rate or a Eurodollar rate, the filing said. 

Upon entering the agreement, Abbott ended its outstanding five-year, $5 billion credit agreement from Nov. 30, 2018, that also had JP Morgan Chase as administrative agents. There were no outstanding borrowings at that time, Abbott said.