Cardinal Health gets restated five-year $2 billion revolver

By Wendy Van Sickle

Columbus, Ohio, June 28 – Cardinal Health, Inc. amended and restated its credit agreement on Thursday to provide for $2 billion revolver that matures on June 27, 2024, according to an 8-K filing with the Securities and Exchange Commission.

Cardinal Health must maintain a maximum consolidated net leverage ratio of 4.25 to 1.00 on June 30, stepping down to 4 to 1 in September 2019 and to 3.75 to 1:00 in March 2021.

JPMorgan Chase Bank, NA, BofA Securities, Inc. and MUFG Bank, Ltd. acted as lead arrangers and book managers. JPMorgan is the administrative agent.

Bank of America, NA and MUFG acted as syndication agents. Barclays Bank plc Deutsche Bank AG, New York branch, Goldman Sachs Bank USA, HSBC Bank USA, NA and Wells Fargo Bank, NA acted as documentation agents.

The revolver backs the company's commercial paper program and may be used for general corporate purposes.

Cardinal Health is a Dublin, Ohio-based health-care services company that provides pharmaceutical and medical products.

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