McKesson secures $2.25 billion term loan facility due 2032

McKesson Corporation (NYSE: MCK) subsidiaries entered into an amendment on June 9, 2026, to establish a $2.25 billion senior secured term loan facility with a maturity date of 2032, according to a company statement.

The amendment modified an existing credit agreement dated April 1, 2026, with JPMorgan Chase Bank serving as administrative agent and collateral agent. McKesson Medical-Surgical Top Holdings serves as the borrower under the facility.

The term loan carries variable interest rates based on the borrower's selection. The company can choose between the Adjusted Term SOFR Rate plus 2.25% annually or the Base Rate plus 1.25% annually. McKesson initially selected the SOFR-based option.

The borrower's obligations are secured by substantially all tangible and intangible assets of the borrower and certain material U.S. subsidiaries, subject to specified exceptions and excluded assets outlined in the credit agreement.

The credit agreement includes financial covenants requiring the borrower to maintain a maximum total net leverage ratio and minimum interest coverage ratio, with customary cure rights available.

The company noted that participants in the credit agreement and their affiliates may engage in various commercial banking and financial services with McKesson and its affiliates in the ordinary course of business.

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