Mckesson corporation enters into a credit agreement

On september 25, 2019, mckesson corporation (“mckesson” or the “company”) entered into a credit agreement (“new credit facility”), among the company, as borrower, the lenders party thereto, the letter of credit issuers party thereto, bank of america, n.a., as administrative agent, and barclays bank plc, citibank, n.a., wells fargo bank, national association, goldman sachs bank usa, jpmorgan chase bank, n.a., and hsbc securities (usa) inc., as co-syndication agents. under the new credit facility, which is scheduled to mature in september 2024, the company has a revolving line of credit available of up to $4.0 billion and a $3.6 billion aggregate sublimit of availability in canadian dollars, british pounds sterling and euros. the new credit facility requires that the company maintain a debt to capital (excluding accumulated other comprehensive income or loss) ratio of no greater than 65%. borrowings under the new credit facility bear interest based upon the london interbank offered rate, canadian dealer offered rate for credit extensions denominated in canadian dollars, a prime rate or alternative overnight rates as applicable plus agreed margins. in the event of default under the new credit facility, the lenders may elect, among other things, to declare any unpaid amounts obtained under the new credit facility to be immediately due and payable. the company can use funds obtained under the new credit facility for general corporate purposes. in the ordinary course of their respective businesses, the lenders under the new credit facility and their affiliates have engaged, and may in the future engage, in commercial banking and/or investment banking transactions with the company and its affiliates.
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