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Zoetis secures $1B revolving credit facility

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Zoetis secures $1B revolving credit facility

Zoetis Inc. secured a $1 billion revolving credit facility from a syndicate of banks represented by JPMorgan Chase Bank NA.

Bank of America NA, Barclays Bank PLC, Citibank NA and The Bank of Tokyo-Mitsubishi UFJ Ltd. will lend amounts under the five-year agreement with options to extend the senior unsecured credit by up to $500 million.

The company can opt to pay interest calculated as either a base rate plus applicable margin or a Eurodollar rate plus applicable margin.

The facility will replace the company's existing credit line.