Summary
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 million 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% 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.
Key Highlights
- 1McKesson Corporation subsidiaries entered into an amendment to their Credit Agreement.
- 2A new $2,250.0 million senior secured term 'B' loan facility due in 2032 has been established.
- 3The new facility provides significant long-term financing for the Company.
- 4Interest rates on the Term B Loan Facility are variable, based on Adjusted Term SOFR Rate or Base Rate plus specified margins.
- 5The Borrower initially selected the Adjusted Term SOFR Rate option with a 2.25% margin.
- 6Borrowings are secured by substantially all tangible and intangible assets of the Borrower and certain material U.S. subsidiaries.
- 7The Credit Agreement includes financial covenants such as maximum total net leverage ratio and minimum interest coverage ratio.