What Is A 364 Day Credit Agreement

The revised credit agreement contains conditions that are consistent with the original 364-day credit facility. 2021 Leveraged Loan Survey: Defaults Edge h-her; Credit quality is a concern Businesses also extended the term of the amended and amended $2.5 billion credit contract to $2.5 billion on July 19. 2018 among borrowers, various banks and other financial institutions that, from time to time, are parties to the latter, JPMorgan Chase Bank NA, as administrative representative, BNP Paribas, Citibank NA, Royal Bank of Canada and Mizuho Bank Ltd., as syndication agents and documentation agents, following an SEC filing filed on July 2. International Business Machines Corp. and IBM Credit LLC entered into a new $2.5 billion credit agreement with several banks and other financial institutions on July 2. On July 6, 2012, we entered into a credit agreement with JPMorgan Chase Bank as a director and a consortium of 12 lenders that we call the 364-day credit facility. The new 364-day credit contract allows IBM and its unit to borrow up to $2.5 billion at any time during the term of the agreement. With Bank of America, Danaher has a new 364-day revolving credit facility (the “credit facility”) N.A. as an administrative officer and occasionally part of a lender replacing the existing $364 billion revolving credit facility, which was associated on August 27, 2019 (the “2019 364 days”) with bank of America, N.A., as a management agent and a consortium of lenders closed there.

At the time of their replacement by the credit facility, no amount was pending under the 364-day credit facility in 2019. The credit facility expires on June 5, 2021 (expected termination date). In the event of payment of a fee equivalent to 0.75% of the principal amount of loans outstanding at the time and under certain conditions, Danaher may convert all term loans into temporary loans due and due one year after the scheduled termination date. The description of the credit contract relating to the credit facility (the “credit contract”) is described as a whole by reference to the full text of the credit contract, the copy of which is attached to Appendix 10.1 and inserted by reference. Borrowing under the credit facility is paid as follows: (1) Loans with eurodollar interest rates (as defined in the credit contract) are paid at a variable rate per year, equal to the interbank rate offered in London, plus a margin between 90.0 and 127.5 basis points, depending on Danaher`s long-term rating; and (2) base rate credits (as defined in the credit agreement) with interest at a variable rate per year corresponding to the highest rate of the Federal Funds Rate (as published from time to time by the Federal Reserve Bank of New York), plus 1/2 of 1%; b) Bank of America`s “Prime Rate” announced from time to time, and c) the eurodollar rate (as defined in the credit contract) plus 1.0%, plus a margin between 0.0 and 27.5 basis points, depending on Danaher`s long-term credit rating. In addition, Danaher is required to pay an annual fee of between 10 and 22.5 basis points (depending on Danaher`s long-term credit rating) based on aggregate commitments under the credit facility, regardless of usage.