North Chicago, Ill.-based biotechnology company AbbVie Inc. negotiated a $1 billion increase in its credit facility provided by lenders represented by JPMorgan Chase Bank NA.
The company can now borrow up to $4 billion under the facility which is unsecured, up from $3 billion previously. The credit facility also now expires on Aug. 27, 2024, as opposed to Aug. 31, 2023.
Earlier this year, AbbVie announced it would be acquiring Botox-maker Allergan PLC for $63 billion, and that it had secured funding from multiple sources to fund the deal.
