20-Mar-2015 ABBVIE vergroot ruimte voor verdere overnames na overname Pharmacyclics:
Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
Item 1.01 Entry into a Material Definitive Agreement.
On March 16, 2015, AbbVie Inc., a Delaware corporation (the "Company"), entered into Amendment No. 1 (the "Amendment") to the Revolving Credit Agreement, dated as of August 18, 2014, by and among the Company, as borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (the "Credit Agreement").
Among other matters, the Amendment increases the maximum ratio of consolidated total debt to consolidated EBITDA permitted under Section 5.03 of the Credit Agreement upon the closing of the Company's previously announced pending acquisition of Pharmacyclics, Inc., to (i) for the last day of each fiscal quarter ending prior to December 31, 2015, 4.875:1.00, (ii) for the last day of each fiscal quarter ended on or after December 31, 2015 and prior to June 30, 2016, 4.75:1.00, (iii) for the last day of each fiscal quarter ending on or after June 30, 2016 and prior to June 30, 2017, 4.25:1.00, and (iv) for the last day of each fiscal quarter ending on or after June 30, 2017, 3.75 to 1.00.
The Credit Agreement was filed as Exhibit 10.2 to the Company's Current Report on Form 8-K filed on August 21, 2014. A copy of the Amendment is included herein as Exhibit 10.1 and is incorporated herein by reference. The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment.
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 above is incorporated in this Item 2.03 by reference.