Cardinal Health Secures 1 Billion Revolving Credit Facility with Bank of America and Lenders
Reuters
Oct 10
Cardinal Health Secures 1 Billion Revolving Credit Facility with Bank of America and Lenders
Cardinal Health, Inc. has entered into a new 364-Day Credit Agreement with Bank of America, N.A. as Administrative Agent and a group of lenders, providing the company access to $1.0 billion in revolving credit through October 6, 2026. The agreement replaces a similar facility that expired in October 2024. Under the terms, Cardinal Health may convert any outstanding loans at the facility's termination into non-revolving term loans, repayable one year later. The agreement includes customary covenants and requires the company to maintain a consolidated net leverage ratio of no greater than 3.75 to 1.00 as of the end of any fiscal quarter. The facility supports general corporate purposes and backs the company's commercial paper program.
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