Walgreens Boots Alliance Inc. has entered into three separate revolving credit agreements with HSBC Bank USA NA, Citibank NA and Unicredit Bank AG - New York Branch, each involving a $500 million senior unsecured revolving credit facility.
The arrangements with the banks will run for 18 months from the signing date of Aug. 30. The agreements allow Walgreens to incur and repay debt in U.S. dollars, British pounds and euros. The facility will have a fluctuating annual interest rate equal to either the Eurocurrency rate plus a margin of 0.95% or the alternate base rate.
Under the facilities, Walgreens agreed to pay lenders customary fees, including an upfront fee and an unused commitment fee.
