Summary
Cardinal Health, Inc. (CAH) filed an 8-K on October 3, 2005, reporting an amendment to its receivables financing agreement. Specifically, Cardinal Health Funding, LLC, a wholly-owned subsidiary, entered into an amendment extending the term of its Amended and Restated Receivables Purchase Agreement. This extension provides continued access to financing through its receivables facility. The amendment, dated September 29, 2005, pushes the facility's term expiration to September 28, 2006. This secured financing arrangement is crucial for the company's liquidity and operational flexibility. The involved parties include various conduits, financial institutions, and agents, notably The Bank of Nova Scotia and JPMorgan Chase Bank, N.A., which also play significant roles in other of Cardinal Health's credit facilities and commercial paper programs.
Key Highlights
- 1Amendment to a material definitive agreement concerning receivables financing.
- 2Extension of the receivables purchase facility's term to September 28, 2006.
- 3The amendment involves Cardinal Health Funding, LLC, a wholly-owned subsidiary.
- 4Key financial institutions involved include The Bank of Nova Scotia and JPMorgan Chase Bank, N.A.
- 5This action aims to ensure continued access to financing through securitized receivables.
- 6The amendment underscores the company's ongoing reliance on its securitization programs for liquidity.