Summary
Cardinal Health, Inc. (CAH) announced on December 13, 2010, the successful issuance and sale of $500 million in aggregate principal amount of 4.625% notes due 2020. This debt offering was facilitated through an underwriting agreement with Barclays Capital Inc., Deutsche Bank Securities Inc., and UBS Securities LLC. The offering was conducted under the company's effective registration statement on Form S-3, indicating a well-established process for capital raising. This filing is important for investors as it details a significant financing activity for Cardinal Health. The issuance of long-term debt suggests the company is likely using these funds for strategic initiatives, potential acquisitions, debt refinancing, or general corporate purposes. The specific coupon rate of 4.625% provides insight into the cost of capital for this issuance, and the maturity date of 2020 offers a view into the company's long-term financial strategy and commitment. The filing also includes key supporting documents, such as the underwriting agreement and legal opinions, which provide further assurance regarding the legitimacy and terms of the debt offering.
Key Highlights
- 1Cardinal Health issued and sold $500 million in aggregate principal amount of 4.625% notes due 2020.
- 2The debt offering occurred on December 13, 2010.
- 3The underwriters for the offering included Barclays Capital Inc., Deutsche Bank Securities Inc., and UBS Securities LLC.
- 4The notes were issued under the company's effective registration statement on Form S-3 (Registration Statement No. 333-169073).
- 5The notes are governed by an Indenture dated June 2, 2008, with The Bank of New York Mellon Trust Company, N.A.
- 6The filing includes the Underwriting Agreement as Exhibit 1.1.
- 7Legal opinions regarding the legality of the notes are provided as exhibits (5.1 and 5.2).