Updated
Updated · Bloomberg · Jun 3
McKesson Medical-Surgical Prices $2.25 Billion Loan Ahead of IPO
Updated
Updated · Bloomberg · Jun 3

McKesson Medical-Surgical Prices $2.25 Billion Loan Ahead of IPO

2 articles · Updated · Bloomberg · Jun 3

Summary

  • $2.25 billion of six-year leveraged debt for McKesson Medical-Surgical Top Holdings priced Wednesday, marking a key financing step before the unit’s planned IPO.
  • The loan came at 99.5 cents on the dollar with a margin of 2.25 percentage points above the benchmark, according to a person familiar with the matter.
  • Pricing tightened Tuesday, nearly a week after launch, indicating stronger-than-initially-marketed demand as the offering moved toward completion.

Insights

Saddled with $2.25B in debt before its IPO, is McKesson's new company set up for success or a future struggle?
What is private equity giant Apollo’s real endgame after loading McKesson’s new spin-off with billions in fresh debt?