Summary
Cencora, Inc. (COR) has announced the pricing of a significant senior notes offering totaling $2.5 billion across multiple tranches with varying maturity dates and coupon rates. These notes include $500 million in 3.950% Senior Notes due 2029, $500 million in 4.250% Senior Notes due 2030, $500 million in 4.600% Senior Notes due 2033, $1 billion in 4.900% Senior Notes due 2036, and $500 million in 5.650% Senior Notes due 2056. The company expects to receive approximately $2.98 billion in net proceeds from this offering, after deducting underwriting discounts and expenses.
Key Highlights
- 1Cencora priced a $2.5 billion aggregate principal amount senior notes offering across five tranches.
- 2The offering includes notes maturing in 2029, 2030, 2033, 2036, and 2056, with coupon rates ranging from 3.950% to 5.650%.
- 3Net proceeds from the offering are estimated to be approximately $2.98 billion.
- 4The net proceeds will be primarily used to repay outstanding amounts under a $3.0 billion 364-day term loan facility entered into on January 12, 2026.
- 5Any remaining proceeds will be used for general corporate purposes.
- 6The offering was conducted under Cencora's existing shelf registration statement.
- 7The sale of the notes is expected to close on February 13, 2026, subject to customary closing conditions.
Frequently Asked Questions
Cencora priced a total of $2.5 billion aggregate principal amount of its senior notes.
The net proceeds are intended to be used to repay outstanding amounts under the Company's 364-Day Term Credit Agreement, dated January 12, 2026, which provided a $3.0 billion senior unsecured term loan facility. Any remaining funds will be used for general corporate purposes.
The Company expects to consummate the sale of the notes to the underwriters on February 13, 2026, subject to the closing conditions specified in the Underwriting Agreement.
The offering includes $500 million of 3.950% Senior Notes due 2029, $500 million of 4.250% Senior Notes due 2030, $500 million of 4.600% Senior Notes due 2033, $1 billion of 4.900% Senior Notes due 2036, and $500 million of 5.650% Senior Notes due 2056.