Baxter International Inc. Files 8-K for Material Agreement

TL;DR

BAX entered a material definitive agreement, filing an 8-K on 3/21/24. Details TBD.

AI Summary

On March 21, 2024, Baxter International Inc. filed an 8-K report detailing a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. Specific details of the agreement, including parties involved and financial terms, are not provided in the excerpt.

Why It Matters

This filing indicates Baxter International Inc. has entered into a significant agreement that could impact its business operations and financial standing. Investors should monitor for further details on the nature and implications of this agreement.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks or opportunities, the nature of which is not yet disclosed in this filing.

Key Players & Entities

• Baxter International Inc. (company) — Registrant
• March 21, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value BAX (NYSE) New York Stock Exc
• $4,000,000,000 — Agreements Amendment to Existing U.S. $4,000,000,000 Term Loan Credit Agreement On March 21
• $4.0 billion — oan Fourth Amendment ") to the existing $4.0 billion term loan credit facility, dated as of
• $2,500,000,000 — Amendment. Amendment to Existing U.S. $2,500,000,000 Five-Year Credit Agreement On March 21
• $2.5 b — ing Fourth Amendment ") to the existing $2.5 billion, five-year revolving credit agree
• $2,000,000,000 — for the reduction of the Commitments to $2,000,000,000, on the earlier of (A) September 30, 20

Filing Documents

• bax-20240321.htm (8-K) — 39KB
• bax-202403218kexhibit101.htm (EX-10.1) — 97KB
• bax-202403218kexhibit102.htm (EX-10.2) — 90KB
• bax-202403218kexhibit103.htm (EX-10.3) — 81KB
• 0001628280-24-012545.txt ( ) — 533KB
• bax-20240321.xsd (EX-101.SCH) — 4KB
• bax-20240321_def.xml (EX-101.DEF) — 19KB
• bax-20240321_lab.xml (EX-101.LAB) — 35KB
• bax-20240321_pre.xml (EX-101.PRE) — 20KB
• bax-20240321_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Credit Agreements Amendment to Existing U.S. $4,000,000,000 Term Loan Credit Agreement On March 21, 2024, Baxter International Inc. (" Baxter ") entered into a fourth amendment (the " Term Loan Fourth Amendment ") to the existing $4.0 billion term loan credit facility, dated as of September 30, 2021, as amended by that certain First Amendment, dated as of September 28, 2022, that certain Second Amendment, dated as of September 28, 2022, and that certain Third Amendment, dated as of March 13, 2023, among Baxter, as Borrower, various lenders and JPMorgan Chase Bank, National Association, as Administrative Agent. The purpose of the Term Loan Fourth Amendment is to amend the net leverage ratio covenant to increase the maximum net leverage ratio for the six fiscal quarters ending June 30, 2024, September 30, 2024, December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025. The description above is a summary of the Term Loan Fourth Amendment and is qualified in its entirety by the complete text of the Term Loan Fourth Amendment, a copy of which is attached to this report as Exhibit 10.1 and incorporated herein by reference. Capitalized terms used under this "Amendment to Existing U.S. $4,000,000,000 Term Loan Credit Agreement" subsection that are not defined herein have the meanings given to them in the Term Loan Fourth Amendment. Amendment to Existing U.S. $2,500,000,000 Five-Year Credit Agreement On March 21, 2024, Baxter entered into a fourth amendment (the " USD Revolving Fourth Amendment ") to the existing $2.5 billion, five-year revolving credit agreement, dated as of September 30, 2021, as amended by that certain First Amendment, dated as of September 28, 2022, that certain Second Amendment, dated as of September 28, 2022, and that certain Third Amendment, dated as of March 13, 2023, among Baxter, as Borrower, various lenders and JPMorgan Chase Bank, National Association, as Administrative Ag

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Fourth Amendment, dated as of March 21, 2024, to the Credit Agreement, dated as of September 30, 2021, as amended by that certain First Amendment, dated as of September 28, 2022, that certain Second Amendment, dated as of September 28, 2022, and that certain Third Amendment, dated as of March 13, 2023, among Baxter International Inc. as Borrower, JPMorgan Chase Bank, National Association, as Administrative Agent and certain other financial institutions named therein. 10.2 Fourth Amendment, dated as of March 21, 2024, to the Five-Year Credit Agreement, dated as of September 30, 2021, as amended by that certain First Amendment, dated as of September 28, 2022, that certain Second Amendment, dated as of September 28, 2022, and that certain Third Amendment, dated as of March 13, 2023, among Baxter International Inc. as Borrower, JPMorgan Chase Bank, National Association, as Administrative Agent and certain other financial institutions named therein. 10.3 Third Guaranty Amendment, dated as of March 21, 2024, to the Amended and Restated Guaranty, dated as of October 1, 2021, as amended by that certain Second Amendment, dated as of September 28, 2022, and that certain Second Guaranty Amendment, dated as of March 13, 2023, among Baxter Healthcare SA and Baxter World Trade SRL, as Borrowers, J.P. Morgan SE, as Administrative Agent and certain other financial institutions named therein. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 21, 2024 BAXTER INTERNATIONAL INC. By: /s/ Ellen K. Bradford Name: Ellen K. Bradford Title: Senior Vice President and Corporate Secretary

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View this 8-K filing on SEC EDGAR