Form 8-K - Current report
November 07 2023 - 4:03PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 7, 2023
McKESSON CORPORATION
(Exact Name of Registrant as Specified in Charter)
| | | | | | | | | | | | | | |
| | | | |
Delaware | | 1-13252 | | 94-3207296 |
(State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
6555 State Hwy 161
Irving, TX 75039
(Address of Principal Executive Offices, and Zip Code)
(972) 446-4800
Registrant’s Telephone Number, Including Area Code
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| | | | | |
☐ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | | | | | | | |
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common stock, $0.01 par value | | MCK | | New York Stock Exchange |
| | | | |
1.500% Notes due 2025 | | MCK25 | | New York Stock Exchange |
1.625% Notes due 2026 | | MCK26 | | New York Stock Exchange |
3.125% Notes due 2029 | | MCK29 | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On November 7, 2023, Bank of America, N.A., as administrative agent (the “Administrative Agent”) under the Credit Agreement, dated November 7, 2022, among McKesson Corporation (“McKesson” or the “Company”), as borrower, the lenders party thereto, the letter of credit issuers party thereto, the Administrative Agent and the other parties thereto (the “Credit Agreement”), delivered a notice to the Company (the “Extension Notice Acknowledgement”) pursuant to which the Administrative Agent, each lender and letter of credit issuer party to the Credit Agreement (i) acknowledged the receipt of an extension notice previously delivered by the Company to the Administrative Agent pursuant to Section 2.17(a) of the Credit Agreement requesting that each lender and letter of credit issuer party to the Credit Agreement agree to extend the maturity date of the revolving credit facility provided for in the Credit Agreement from November 7, 2027 to November 7, 2028 (the “Maturity Date Extension”) and (ii) consented to the Maturity Date Extension.
All other terms of the Credit Agreement remain unchanged. For a description of the Credit Agreement, see the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 7, 2022.
A copy of the Extension Notice Acknowledgement is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.01 above is hereby incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| | | | | | | | |
Exhibit No. | | Description |
| |
10.1 | | | |
104 | | | Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 7, 2023
| | | | | | | | |
| | |
McKesson Corporation |
| |
| By: | /s/ Britt J. Vitalone |
| | Britt J. Vitalone |
| | Executive Vice President and |
| | Chief Financial Officer |
Exhibit 10.1
EXECUTION VERSION
BANK OF AMERICA, N.A.
One Bryant Park
New York, New York 10036
November 7, 2023
To: McKesson Corporation, as Borrower under the Credit Agreement referred to below
Re: Extension of Maturity Date
We refer to that certain Credit Agreement, dated as of November 7, 2022 (the “Credit Agreement”), among McKesson Corporation, a Delaware corporation (the “Company”), the lenders from time to time party thereto (the “Lenders”), the L/C Issuers from time to time party thereto, and Bank of America, N.A., as Administrative Agent (the “Agent”). Capitalized terms used herein without definition have the meanings set forth in the Credit Agreement.
Pursuant to Section 2.17(a) of the Credit Agreement, the Company has requested that each Lender and L/C Issuer extend the Existing Maturity Date from November 7, 2027 to November 7, 2028 pursuant to the Extension Notice, a copy of which is set forth on Annex A (the “Extension Notice”).
The Agent, the L/C Issuers and the Lenders hereby acknowledge receipt of the Extension Notice, and consent to the extension of the Existing Maturity Date from November 7, 2027 to November 7, 2028.
The Company acknowledges and agrees that the Loan Documents, as amended hereby, remain in full force and effect, binding on and enforceable against it in accordance with the terms.
This extension acknowledgement shall be construed in accordance with and governed by the law of the State of New York.
[Signature Page Follows]
Very truly yours,
| | | | | |
BANK OF AMERICA, N.A., Administrative Agent |
By: | /s/ Melissa Mullis |
Name: Melissa Mullis |
Title: Vice President |
[Signature Page to Extension Acknowledgement]
| | | | | |
BANK OF AMERICA, N.A., as a Lender and L/C Issuer |
By: | /s/ Tyler Morgan |
Name: Tyler Morgan |
Title: Vice President |
[Signature Page to Extension Acknowledgement]
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JPMorgan Chase Bank, N.A., as a Lender and L/C Issuer |
By: | /s/ Charles W. Shaw |
Name: Charles W. Shaw |
Title: Vice President |
[Signature Page to Extension Acknowledgement]
| | | | | |
WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender and L/C Issuer |
By: | /s/ Andrea Chen |
Name: Andrea Chen |
Title: Managing Director |
[Signature Page to Extension Acknowledgement]
| | | | | |
BARCLAYS BANK PLC, as a Lender and L/C Issuer |
By: | /s/ Edward Pan |
Name: Edward Pan |
Title: Vice President |
[Signature Page to Extension Acknowledgement]
| | | | | |
CITIBANK, N.A., as a Lender and L/C Issuer |
By: | /s/ Susan Olsen |
Name: Susan Olsen |
Title: Vice President |
[Signature Page to Extension Acknowledgement]
| | | | | |
GOLDMAN SACHS BANK USA, as a Lender and L/C Issuer |
By: | /s/ William E. Briggs IV |
Name: William E. Briggs IV |
Title: Authorized Signatory |
[Signature Page to Extension Acknowledgement]
| | | | | |
BNP PARIBAS, as Joint Sustainability Coordinator and Lender |
By: | /s/ John Bosco |
Name: John Bosco |
Title: Managing Director |
| | | | | |
|
By: | /s/ Adam Caretti |
Name: Adam Caretti |
Title: Director |
[Signature Page to Extension Acknowledgement]
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DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender |
By: | /s/ Ming K. Chu |
Name: Ming K. Chu |
Title: Director |
| | | | | |
By: | /s/ Douglas Darman |
Name: Douglas Darman |
Title: Director |
[Signature Page to Extension Acknowledgement]
| | | | | |
HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender |
By: | /s/ Virginia Cosenza |
Name: Virginia Cosenza |
Title: Senior Vice President |
[Signature Page to Extension Acknowledgement]
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PNC BANK NATIONAL ASSOCIATION, as a Lender |
By: | /s/ Alexander Jodry |
Name: Alexander Jodry |
Title: Vice-President |
[Signature Page to Extension Acknowledgement]
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THE BANK OF NOVA SCOTIA, as a Lender |
By: | /s/ Rob Gass |
Name: Robb Gass |
Title: Managing Director |
[Signature Page to Extension Acknowledgement]
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THE TORONTO-DOMINION BANK, NEW YORK BRANCH, as a Lender |
By: | /s/ Mike Tkach |
Name: Mike Tkach |
Title: Authorized Signatory |
[Signature Page to Extension Acknowledgement]
| | | | | |
TRUIST BANK, as a Lender |
By: | /s/ Jonathan Hart |
Name: Jonathan Hart |
Title: Director |
[Signature Page to Extension Acknowledgement]
| | | | | |
U.S. BANK NATIONAL ASSOCIATION, as a Lender |
By: | /s/ Maria Massimino |
Name: Maria Massimino |
Title: Senior Vice President |
[Signature Page to Extension Acknowledgement]
| | | | | |
ING BANK N.V., DUBLIN BRANCH, as a Lender |
By: | /s/ Cormac Langford |
Name: Cormac Langford |
Title: Director |
| | | | | |
By: | /s/ Sean Hassett |
Name: Sean Hassett |
Title: Director |
[Signature Page to Extension Acknowledgement]
| | | | | |
SOCIETE GENERALE, as a Lender |
By: | /s/ Kimberly Metzger |
Name: Kimberly Metzger |
Title: Director |
[Signature Page to Extension Acknowledgement]
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UNICREDIT BANK AG, NEW YORK BRANCH, as a Lender |
By: | /s/ Fabio Della Malva |
Name: Fabio Della Malva |
Title: Managing Director |
| | | | | |
By: | /s/ Laura Shelmerdine |
Name: Laura Shelmerdine |
Title: Director |
[Signature Page to Extension Acknowledgement]
ACKNOWLEDGED AND AGREED:
MCKESSON CORPORATION
| | | | | |
By: | /s/ Akinjide Falaki |
Name: Akinjide Falaki |
Title: Senior Vice President and Treasurer |
[Signature Page to Extension Acknowledgement]
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