Loan & DebtAug 11, 2026, 06:46 AM
Cardinal Health Secures New $4.0B Revolving Credit Facility
AI Summary
Cardinal Health, Inc. has entered into a new $4.0 billion unsecured revolving credit agreement, effective August 7, 2026. This new facility, which matures on August 7, 2031, replaces the company's existing $2.0 billion five-year and $1.0 billion 364-day revolving credit facilities, as well as a $1.0 billion receivables sale facility. The company will utilize the new credit line for general corporate purposes and incurred no penalties for terminating the prior agreements.
Key Highlights
- Secured a new $4.0 billion unsecured revolving credit facility.
- The new facility matures on August 7, 2031, with an option to extend by two years.
- Replaces existing $2.0 billion five-year and $1.0 billion 364-day revolving credit facilities.
- Also replaces an existing $1.0 billion committed receivables sale facility program.
- The new credit agreement includes a Consolidated Net Leverage Ratio covenant of no greater than 4.00 to 1.00.
- No penalties were incurred for the termination of the previous facilities.
- The facility will be used for general corporate purposes.
Price Impact
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