Simpson Thacher represented McKesson Corporation and its subsidiary, McKesson Medical-Surgical Top Holdings Inc., in connection with McKesson Medical-Surgical Top Holdings Inc.’s entry into (i) a new $750 million five-year senior secured Term A credit facility, (ii) a new $250 million two-year senior secured term A credit facility and (iii) a new $1 billion five-year senior secured revolving credit facility. The proceeds of the facilities will be used to partially repay a shareholder loan owing to McKesson Corporation. JPMorgan Chase Bank, N.A. acted as administrative agent.
McKesson Corporation is a diversified healthcare services leader dedicated to advancing health outcomes for patients everywhere. McKesson’s teams partner with biopharma companies, care providers, pharmacies, manufacturers, governments, and others to deliver insights, products, and services to help make quality care more accessible and affordable. McKesson Corporation previously announced its intent to spin off its Medical-Surgical Solutions segment into an independent company.
The Simpson Thacher team included Katie Reaves, Young Bin (Peter) Bang, Elizabeth Greene, Emma Li and Isabelle Yuan (Credit); Edgar Lewandowski, John Hotes and Louise Choi (Capital Markets); and Alec Jarvis and Michael Mann (Tax).