Illumina secured a $1 billion credit facility with Bank of America and also entered an underwriting agreement for a $300 million note offering. The credit arrangement replaces an older facility and includes swingline and letter-of-credit sublimits, with Illumina indicating no borrowings were outstanding at the time of the filing. Illumina plans to use net proceeds and existing cash to refinance expiring debt, including repayment of 4.650% notes due in September 2026. Separately, the company disclosed the terms for the 4.950% notes due 2029, expected to close Aug. 17. For biotech adjacent investors watching sequencing infrastructure, the moves matter as capital planning can influence platform roadmap execution, operational capacity, and near-term balance-sheet resilience. The issuance supports near-term liquidity and helps manage maturities without taking immediate equity dilution risk.