McKesson Subsidiary Enters into $2.25 Billion Senior Secured Term Loan Facility

McKesson Corporation (MCK) disclosed that its subsidiary, McKesson Medical-Surgical Top Holdings, Inc., has entered into an amendment to its existing credit agreement to establish a new $2.25 billion senior secured term 'B' loan facility. The new facility is due in 2032 and is secured by substantially all assets of the borrower and its guarantors.

Key Details

• Loan Facility: Established a $2,250.0 million senior secured term 'B' loan facility due in 2032, effective June 9, 2026.
• Interest Rate: Borrowings will bear interest at either the Adjusted Term SOFR Rate plus an applicable margin of 2.25% per annum or the Base Rate plus an applicable margin of 1.25% per annum. The initial selected rate is the Adjusted Term SOFR Rate plus 2.25%.
• Security & Covenants: The loan is secured by substantially all tangible and intangible assets of the borrower and its guarantors. The agreement includes financial covenants consisting of a maximum total net leverage ratio and a minimum interest coverage ratio.