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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
January 29, 2024
Date of Report (Date of earliest event reported)
ABBOTT LABORATORIES
(Exact name of registrant as specified in
charter)
Illinois |
|
1-2189 |
|
36-0698440 |
(State or other Jurisdiction |
|
(Commission File Number) |
|
(IRS Employer |
of Incorporation) |
|
|
|
Identification No.) |
100 Abbott Park Road
Abbott Park, Illinois 60064-6400
(Address of principal executive offices)(Zip
Code)
Registrant’s telephone number, including
area code: (224) 667-6100
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities Registered Pursuant to Section 12(b) of
the Act:
Title of Each Class |
Trading
Symbol(s) |
Name of Each Exchange
on
Which Registered |
Common
Shares, Without Par Value |
ABT |
New
York Stock Exchange
Chicago
Stock Exchange, Inc. |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01. Entry into a Material Definitive Agreement.
On January 29, 2024 (the “Effective
Date”), Abbott Laboratories, an Illinois corporation (“Abbott”), entered into a Five Year Credit Agreement
(the “Revolving Credit Agreement”) with the lenders from time to time party thereto and JPMorgan Chase Bank, N.A.,
as administrative agent.
The Revolving Credit Agreement provides Abbott
with the ability to borrow up to $5 billion on an unsecured basis. Any borrowings under the Revolving Credit Agreement will mature and
be payable on the fifth anniversary of the Effective Date. As of the date of this Current Report on Form 8-K, there are no outstanding
borrowings under the Revolving Credit Agreement.
Abbott’s borrowings under the Revolving Credit
Agreement will bear interest, at Abbott’s option, based on either a base rate or a SOFR 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 period ending December 31, 2023.
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 as of
November 12, 2020 (as amended by that certain Amendment No. 1, dated as of May 12, 2023, the “Existing Credit
Agreement”), among Abbott, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent.
There were no outstanding borrowings under the Existing Credit Agreement at the time of its termination.
The Existing Credit Agreement provided Abbott
with the ability to borrow up to $5 billion on an unsecured basis. Absent termination, any borrowings under the Existing Credit
Agreement would have matured and been payable on November 12, 2025. Abbott’s borrowings under the Existing Credit
Agreement bore interest, at Abbott’s option, based on either a base rate or a SOFR rate, plus an applicable margin based on
Abbott’s credit ratings in effect from time to time.
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.
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.
|
ABBOTT LABORATORIES |
|
|
Date: January 29, 2024 |
By: |
/s/ Philip P. Boudreau |
|
|
Philip P. Boudreau |
|
|
Senior Vice President, Finance and Chief Financial Officer |
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Entity Registrant Name |
ABBOTT LABORATORIES
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Entity Central Index Key |
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Entity Tax Identification Number |
36-0698440
|
Entity Incorporation, State or Country Code |
IL
|
Entity Address, Address Line One |
100 Abbott Park Road
|
Entity Address, City or Town |
Abbott Park
|
Entity Address, State or Province |
IL
|
Entity Address, Postal Zip Code |
60064-6400
|
City Area Code |
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Title of 12(b) Security |
Common Shares, Without Par Value
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Trading Symbol |
ABT
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Security Exchange Name |
CHX
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