Financing ·
Baxter prices up to $600M cash tender offers for senior notes due 2032 through 2051
BAXBaxter International Inc
Baxter International Inc. announced the pricing and early tender results for its cash tender offers of up to $600 million in aggregate principal amount of outstanding senior notes, including series due 2051, 2046, 2043, and 2032. The company increased the offer cap from $500 million to $600 million and accepted all tendered notes for priority levels one through three and approximately 31.37% of level four notes on a prorated basis. Total consideration per $1,000 principal ranges from $587.34 to $867.59, including an early tender premium of $30. Settlement is scheduled for August 20, 2026. Separately, Baxter entered into Amendment No. 2 to its five-year credit agreement, increasing the maximum net leverage ratio covenant for fiscal quarters through September 2027 and removing Baxter World Trade SRL as a borrower. Baxter International Inc. operates in the healthcare industry, providing medical devices, connected solutions, and advanced injectable technologies.