J.P. Morgan, U.S. Bank Upsize Henry Schein Facility to $750MM
Henry Schein, one of the world’s largest providers of health care products and services to office-based dental, animal health and medical practitioners, amended its revolving credit facility.
The amendment included an increase to the maximum borrowing amount from $500 million to $750 million, and an extension of the facility through September 2022. J.P. Morgan Securities and U.S. Bank served as joint lead arrangers for the new facility.
“We are pleased to announce the increase of our credit facility, which in combination with our strong cash flow, offers us the additional flexibility to take advantage of acquisition and share repurchase opportunities, as well as to use it for working capital and general corporate purposes,” said Steven Paladino, executive vice president and chief financial officer. “The facility supports our long-term internal and acquisition growth strategies while maintaining a strong capital structure.”