Cencora restates $2.4 billion revolver with extended 2028 maturity

By Wendy Van Sickle

Columbus, Ohio, Oct. 10 – Cencora, Inc. and its subsidiaries BP Pharmaceuticals Laboratories Unltd. Co., Centaur Services Ltd. and Innomar Strategies Inc. entered into an amended and restated credit agreement providing for $2.4 billion of commitments, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement restates the existing credit agreement dated Oct. 27, 2022 with JPMorgan Chase Bank, NA as administrative agent.

The senior unsecured multicurrency revolver was amended and restated to, among other things, extend the maturity date to Oct. 6, 2028.

Interest will accrue at 80.5 basis points to 122.5 bps over term SOFR, Euribor or CDOR, as applicable, with the margin depending on the company’s public debt ratings. Facility fees, also based on public debt ratings, will range from 7 bps to 15 bps.

The company may obtain letters of credit under the revolver up to a maximum amount of $100 million.

JPMorgan is the administrative agent and a joint bookrunner and lead arranger along with BNP Paribas Securities Corp., BofA Securities, Inc., Citibank, NA and Wells Fargo Securities, LLC.

Bank of America, NA, BNP Paribas, Citibank, NA and Wells Fargo Bank, NA are the syndication agents.

Morgan Stanley Senior Funding, Inc., MUFG Bank, Ltd., Bank of Nova Scotia and U.S. Bank NA are the documentation agents.

Proceeds may be used for general corporate purposes.

Based in Conshohocken, Pa., Cencora, formerly AmerisourceBergen Corp., is a drug wholesale company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.