Bristol-Myers closes $1.5 billion five-year revolving credit facility

By Aleesia Forni

Columbus, Ohio, Oct. 5 - Bristol-Myers Squibb Co. entered into a $1.5 billion five-year competitive advance and revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Sept. 29.

The facility bears interest at a rate based on the company's credit rating, ranging from Libor plus 20 basis points to 137.5 bps.

Commitment fees range from 5 bps to 12.5 bps.

This facility replaces the company's existing $2 billion five-year revolver, established in December 2006.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Bank of America Merrill Lynch, BNP Paribas Securities Corp. and RBS Securities Inc. are joint lead arrangers and bookrunners.

JPMorgan Chase Bank NA and Citibank NA serve as administrative agents.

Bank of America NA is syndication agent, while BNP Paribas and the Royal Bank of Scotland plc are documentation agents.

Bristol-Myers is a New York-based biopharmaceutical company.

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