Abbott (NYSE: ABT) + announced that it entered into a five-year credit agreement worth up to $5 billion on an unsecured basis.

The company entered into the agreement with lenders from time to time party thereto and JPMorgan Chase Bank as administrative agent.

According to an SEC filing, the agreement gives Abbott the ability to borrow up to $5 billion on an unsecured basis. Any borrowings will mature and be payable on the fifth anniversary of the effective date. As of the date of the filing, the company has no outstanding borrowings under the revolving credit agreement.

Borrowings under this agreement bear interest, at Abbott’s option, based on either a base rate or SOFR rate. The agreement also includes an applicable margin based on Abbott’s credit ratings in effect from time to time. Abbott also intends to pay to lenders certain customary fees.

In connection with the new agreement, Abbott terminated all commitments outstanding under its previous five-year agreement. It had no outstanding borrowings under that agreement, dated Nov. 12, 2020, at the time of termination. The existing agreement also gave Abbott the ability to borrow up to $5 billion on an unsecured basis.

Absent termination, any borrowings under that agreement would have matured and been payable on Nov. 12, 2025.