Charles River said it entered into the Tenth Amended and Restated Credit Agreement on December 13, 2024, amending and restating its existing credit agreement with JPMorgan Chase Bank, N.A. as administrative agent.

1. 01

   Charles River said it entered into the Tenth Amended and Restated Credit Agreement on December 13, 2024, amending and restating its existing credit agreement with JPMorgan Chase Bank, N.A. as administrative agent.

2. 02

   The company said the agreement reduces aggregate revolving commitments from $3 billion to $2 billion, extends the facility maturities and adds Charles River Laboratories, Inc. as a borrower.

3. 03

   The company said the revolving credit facility provides for up to approximately $2 billion and matures on December 13, 2029, with no scheduled payments required before that date. It added that loans in U.S. dollars, euros and sterling bear interest at benchmark rates plus a margin based on the leverage ratio.

4. 04

   The company said the obligations under the agreement are guaranteed by Charles River Laboratories, Inc. and secured by substantially all assets of the company and its material U.S. subsidiaries, including a pledge of 100% of the capital stock of Charles River Laboratories, Inc. and 65% of the capital stock of certain foreign subsidiaries. It also said the agreement requires compliance with an interest coverage ratio and a leverage ratio.

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