Summary
Cencora, Inc. (COR) announced the pricing of a significant senior notes offering, raising approximately $1.79 billion in net proceeds. This offering includes $500 million in 4.625% Senior Notes due 2027, $600 million in 4.850% Senior Notes due 2029, and $700 million in 5.150% Senior Notes due 2035. The company plans to utilize these proceeds primarily to finance a portion of its previously disclosed acquisition of the majority of Retina Consultants of America, cover associated fees and expenses, and for general corporate purposes. The offering is structured to close on December 9, 2024, and is independent of the acquisition's completion.
Key Highlights
- 1Cencora priced a public offering of $1.8 billion in aggregate principal amount of senior unsecured notes across three tranches: 2027, 2029, and 2035 maturities.
- 2The offering is expected to generate approximately $1.79 billion in net proceeds after deducting underwriting discounts and expenses.
- 3Proceeds are earmarked to fund a portion of the acquisition of the majority of Retina Consultants of America, along with related fees and general corporate purposes.
- 4The offering's closing is scheduled for December 9, 2024, and is not contingent on the completion of the Retina Consultants of America acquisition.
- 5The notes are senior unsecured obligations of Cencora, with interest rates ranging from 4.625% to 5.150% depending on the maturity.
- 6The company intends to invest the net proceeds in high-quality, short-term debt securities pending their application for the stated purposes.