MCKESSON CORP 8-K

What Happened

• McKesson Corporation (filed June 12, 2026) disclosed that on June 9, 2026 certain subsidiaries, including McKesson Medical‑Surgical Top Holdings, Inc. (the Borrower), entered into an amendment to their April 1, 2026 credit agreement to add a $2,250.0 million senior secured Term “B” loan facility due 2032. JPMorgan Chase Bank, N.A. serves as administrative and collateral agent.

Key Details

• Amount & maturity: $2,250.0 million senior secured Term B loan facility, due 2032.
• Interest: Borrower may choose either (i) Adjusted Term SOFR + 2.25% or (ii) Base Rate + 1.25%; initial selection was Adjusted Term SOFR + 2.25%.
• Security & guarantors: Obligations secured by a security interest in substantially all tangible and intangible assets of the Borrower and certain material U.S. subsidiaries (subject to exceptions/Excluded Assets).
• Financial covenants: Includes a maximum total net leverage ratio covenant and a minimum interest coverage ratio covenant (with customary cure rights).

Why It Matters

• The amendment adds $2.25 billion of secured financing and sets its maturity at 2032, affecting McKesson’s debt profile and liquidity sources. The loan’s floating-rate structure (SOFR + margin chosen initially) determines ongoing interest expense exposure.
• The security package and financial covenants create contractual repayment and performance requirements that investors should watch, as they affect the company’s financial flexibility and could constrain actions if covenant thresholds are breached.
• The amendment is filed as Exhibit 10.1 to the Form 8‑K; no other material changes to the Credit Agreement were reported.