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JP Morgan Securities, U.S. Bank Arrange New $750MM Credit Facility for Henry Schein

July 14, 2023, 07:51 AM
Filed Under: Medical

Henry Schein, the world’s largest provider of health care solutions to office-based dental and medical professionals, closed on a new $750 million credit facility with a maturity date of July 2026. JP Morgan Securities and U.S. Bank acted as Joint Lead Arrangers with respect to the new credit facility.

Henry Schein also amended its existing $1 billion revolving credit facility, including extending the maturity date to July 2028. Together these credit facilities provide the Company with $1.8 billion of available borrowing capacity.

“The successful completion of this transaction, along with the amendment of our existing credit facility, bolsters our financial flexibility and provides us with ample liquidity to support our BOLD+1 Strategic Plan, including pursuing focused M&A and investing in attractive growth opportunities,” said Ronald N. South, Senior Vice President and Chief Financial Officer of Henry Schein. “We appreciate the support from our new and existing lending partners, who recognize the strength of our balance sheet as we look to further enhance shareholder value.”

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