AbbVie secures $3 billion credit facility, total access now $8 billion

AbbVie Inc . (NYSE:ABBV), a Delaware-incorporated pharmaceutical company with a market capitalization of $339 billion and annual revenue exceeding $56 billion, has entered into a $3 billion unsecured revolving credit agreement, expanding its borrowing capacity. According to InvestingPro data, the company maintains a "GOOD" financial health score, supporting its strategic financial decisions. The new facility, effective as of January 30, 2025, matures on January 30, 2030, and was established with various lenders, with JPMorgan Chase (NYSE:JPM) Bank, N.A. as the administrative agent.

This recent financial maneuver provides AbbVie with additional liquidity, as the company reported no outstanding borrowings under the new facility upon its commencement. The credit agreement allows AbbVie to borrow at variable interest rates and includes several covenants. The company’s strong financial position is reflected in its consistent dividend payments, which it has maintained for 13 consecutive years, currently yielding 3.45%.

In addition to the new credit line, AbbVie maintains its existing $5 billion revolving credit facility, which is set to mature in March 2028. With the addition of the new facility, AbbVie’s total available revolving credit facilities amount to $8 billion.

The establishment of the new credit facility demonstrates AbbVie’s financial strategy and preparedness for future investments or financial obligations. The company, known for its pharmaceutical preparations, continues to maintain a strong presence in the healthcare sector with its headquarters in North Chicago, Illinois.

The information disclosed in this article is based on a press release statement from AbbVie Inc. as per their filing with the Securities and Exchange Commission.

In other recent news, AbbVie has been the focus of multiple financial firms’ updates. BMO Capital Markets raised its price target for AbbVie to $215, maintaining an Outperform rating. The firm highlighted AbbVie’s raised guidance for its drugs Skyrizi and Rinvoq, indicating a strong growth trajectory. Guggenheim Securities also increased AbbVie’s stock target to $214, maintaining a Buy rating. They noted AbbVie’s strong fourth-quarter performance and initial full-year 2025 guidance, with earnings driven by robust sales of Skyrizi and Rinvoq.

Leerink Partners lifted AbbVie’s stock price target to $210, maintaining an Outperform rating. The firm’s analysts adjusted their 2025 earnings per share (EPS) forecast slightly upward, indicating confidence in the company’s future performance. Raymond (NSE:RYMD) James followed suit, increasing the price target on AbbVie shares to $220, while reaffirming an Outperform rating. The firm noted AbbVie’s strong performance in the fourth quarter and raised long-term guidance for Skyrizi and Rinvoq.

Lastly, Goldman Sachs increased the price target for AbbVie to $212, maintaining a "Buy" rating. The firm pointed out the increased 2027 sales potential for Skyrizi and Rinvoq, signaling management’s strong confidence in the sustainability of growth. These updates reflect recent developments and adjustments in the financial sector’s outlook on AbbVie.

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