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Stock impact report

Henry Schein Enhances Liquidity Position With New Credit Facility Totaling $700 Million

Henry Schein, Inc. (HSIC) 
Last henry schein, inc. earnings: 2/20 07:00 am Check Earnings Report
Company Research Source: Business Wire
Company Also Amends Existing $750 Million Credit Facility; Total Liquidity Now at $1.7 Billion MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical professionals, today announced that it has closed on a new credit facility totaling $700 million, with JP Morgan Securities LLC and U.S. Bank NA serving as Joint Lead Arrangers.The new facility represents $700 million in committed financing that increases and replaces $200 million in uncommitted financing from the same lenders. The Company’s liquidity position now totals $1.7 billion.The breakdown of the new financing is as follows: a $500 million, 364-day term loan, and a $200 million, 364-day revolving credit facility. Henry Schein also amended its existing $750 million revolving credit facility, most notably to include the temporary amendment of the Company’s covenant calculation to reflect Net Debt instead of Gross Debt, as well a Show less Read more
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