UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): June 8, 2007
McKesson Corporation
(Exact name of registrant as specified in its charter)
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| Delaware
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1-13252
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94-3207296 |
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(State or other jurisdiction
of incorporation)
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(Commission File
Number)
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(IRS Employer
Identification No.) |
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| McKesson Plaza, One Post Street, San Francisco, CA
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94104 |
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| (Address of principal executive offices)
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(Zip Code) |
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| (415) 983-8300 |
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| (Registrant’s telephone number, including area code) |
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:
[ ] Written communications 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 communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17CFR 240.13e-4(c))
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Item 1.01 Entry into a Material Definitive Agreement
Revolving Credit Facility
On June 8, 2007, McKesson Corporation (the “Company”) and McKesson Canada Corporation (“McKesson
Canada”) entered into an Amended and Restated Credit Agreement (the “Amended and Restated Credit
Agreement”) with a syndicate of lenders including Bank of America, N.A., as Administrative Agent;
Bank of America, N.A., acting through its Canada branch, as Canadian Administrative Agent; JPMorgan
Chase Bank and Wachovia Bank, National Association, as Co-Syndication Agents; Wachovia Bank,
National Association, as Letter of Credit Issuer; The Bank of Nova Scotia and Bank of
Tokyo-Mitsubishi UFJ, Ltd., Seattle Branch, as Co-Documentation Agents; and the other lenders party
thereto.
The
Amended and Restated Credit Agreement renewed and extended the credit
agreement dated as of September 24, 2004. The Amended and Restated Credit Agreement provides for a
$1.3 billion five-year, senior unsecured revolving credit facility. Borrowings under the credit
facility will bear interest at a floating rate based on a base rate (or, in the case of a Canadian
dollar borrowing, a Canadian prime rate) or a Eurodollar rate. Other
than certain letters of credit, there were no borrowings
outstanding at the time the credit facility was renewed.
In the
event of certain defaults under the Amended and Restated Credit
Agreement, the lenders may elect, among other things, to declare any
unpaid amounts obtained under the facility to be immediately due and
payable.
The ability of the Company and McKesson Canada to borrow under the credit facility is subject to
ongoing compliance with certain financial and other covenants, including a covenant as to
the Company’s maximum debt to capitalization ratio. The terms and conditions of the Amended and Restated
Credit Agreement, including the financial covenants, are similar to
those in the
Company’s previous credit facility.
The Company obtained the credit facility for general corporate purposes.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant
The information required by this item is included in Item 1.01.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Amended and Restated Credit Agreement, dated as of June 8, 2007,
among McKesson Corporation, McKesson Canada Corporation, Bank of
America, N.A., as Administrative Agent, Bank of America, N.A., acting
through its Canada branch, as Canadian Administrative Agent with
respect to the Canadian Loans and the Bankers’ Acceptance Facility,
Wachovia Bank, National Association, as L/C Issuer, and each lender
from time to time party thereto. |
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