01—Abstract
Summary
Summary of the 8-K filed June 12, 2026. Cited figures are marked; the original filing is the authoritative source.
McKesson Corporation (MCK) announced on June 12, 2026, through an 8-K filing, the entry into a material definitive agreement related to its credit facilities.
Specifically, certain subsidiaries, including McKesson Medical-Surgical Top Holdings, Inc. (the Borrower), have amended their existing Credit Agreement. This amendment establishes a new $2,250.0 milliona senior secured term "B" loan facility due in 2032. This new financing provides the Company with substantial liquidity and extends its debt maturity profile.
The Term B Loan Facility bears interest at a variable rate, offering the Borrower the option between Adjusted Term SOFR Rate plus a 2.25%b margin or a Base Rate plus a 1.25% margin, with the Borrower initially electing the SOFR-based rate. The obligations are secured by substantially all tangible and intangible assets of the Borrower and certain material U.S. subsidiaries, and the facility includes financial covenants related to total net leverage and interest coverage ratios.
02—Key points
Key Highlights
- McKesson Corporation subsidiaries entered into an amendment to their Credit Agreement.
- A new $2,250.0 million senior secured term 'B' loan facility due in 2032 has been established.
- The new facility provides significant long-term financing for the Company.
- Interest rates on the Term B Loan Facility are variable, based on Adjusted Term SOFR Rate or Base Rate plus specified margins.
- The Borrower initially selected the Adjusted Term SOFR Rate option with a 2.25% margin.
- Borrowings are secured by substantially all tangible and intangible assets of the Borrower and certain material U.S. subsidiaries.
- The Credit Agreement includes financial covenants such as maximum total net leverage ratio and minimum interest coverage ratio.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to disclose McKesson Corporation's entry into a material definitive agreement, specifically an amendment to its Credit Agreement to establish a new $2,250.0 million senior secured term 'B' loan facility.
What is the amount and maturity of the new loan facility?
The new senior secured term 'B' loan facility is for $2,250.0 million and is due in 2032.
How is the new loan facility secured?
The obligations under the Credit Agreement, including the new Term B Loan Facility, are secured by a security interest in substantially all tangible and intangible assets of the Borrower (McKesson Medical-Surgical Top Holdings, Inc.) and its certain material U.S. subsidiaries, subject to customary exceptions.
What are the key financial covenants associated with this new loan facility?
The Borrower will be subject to financial covenants including a maximum total net leverage ratio and a minimum interest coverage ratio, with customary cure rights available.
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