Daily News: September 13, 2012

J.P. Morgan, HSBC Arrange $500MM Facility for Henry Schein


Henry Schein, a provider of healthcare products and services to office-based dental, medical and animal health practitioners, announced the closing of a new $500 million revolving credit facility. This new facility, which matures in September 2017, replaces Henry Schein’s current $400 million revolving facility, which was scheduled to mature in September 2013. J.P. Morgan Securities served as sole bookrunner and joint lead arranger for the new facility. HSBC Bank USA also served as joint lead arranger.

“We are very happy to announce this expanded credit facility at favorable terms,” said Stanley M. Bergman, chairman and chief executive officer of Henry Schein. “This new facility reflects the recognition of Henry Schein’s ongoing success and our strong financial results.”

Henry Schein plans to use its credit facility for working capital and general corporate purposes, including, but not limited to, capital expenditures, the repurchase of the company’s capital stock and permitted refinancing of existing debt, as well as for funding potential acquisitions.