MCK 8-K: Smart Summary

On April 24, 2026, McKesson Corporation entered into a new $5B senior unsecured revolving credit facility (the 'New Revolving Credit Facility') with Bank of America, N.A. as administrative agent, replacing two existing credit facilities totaling $5B that were terminated concurrently.

• New Revolving Credit Facility (Credit Agreement) — McKesson Corporation (borrower), certain subsidiaries as designated borrowers, Bank of America, N.A. (administrative agent), JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association (co-syndication agents), Barclays Bank PLC, Citibank, N.A. and Goldman Sachs Bank USA (co-documentation agents), and other lenders party thereto; effective April 24, 2026; $5B senior unsecured revolving credit facility with a $4.5B aggregate sublimit for borrowings in Canadian Dollars, British Pound Sterling and Euros; matures April 24, 2031; replaces the Existing 364-Day Credit Facility ($1B, dated May 8, 2025, scheduled to mature May 2026) and the Existing Credit Facility ($4B five-year, dated November 7, 2022, scheduled to mature November 2029); no borrowings were outstanding under the Existing Credit Facilities at termination
• Existing 364-Day Credit Facility (terminated) — McKesson Corporation; dated May 8, 2025; provided a revolving line of credit of up to $1B; scheduled to mature May 2026; terminated upon effectiveness of the New Revolving Credit Facility
• Existing Credit Facility (terminated) — McKesson Corporation; dated November 7, 2022, as amended; provided a revolving line of credit of up to $4B with a $3.6B aggregate sublimit in Canadian Dollars, British Pound Sterling and Euros; scheduled to mature November 2029; terminated upon effectiveness of the New Revolving Credit Facility

• Financial Covenant — Leverage Ratio — Company must maintain a total debt to Consolidated EBITDA ratio of no greater than 4.25x to 1.00x, excluding indebtedness of the Medical-Surgical Solutions segment and the portion of Consolidated EBITDA attributable to Medical-Surgical Solutions
• Temporary Leverage Step-Up — Ratio may step up to 4.75x to 1.00x upon election by the Company following consummation of an acquisition involving cash consideration of at least $500,000,000
• Event of Default Acceleration — Upon an event of default, lenders may declare all unpaid amounts immediately due and payable
• Conditions to Effectiveness (Closing Date) — All conditions precedent in Section 4.01 must be satisfied or waived; Closing Date confirmed as April 24, 2026
• Commitment Increase — Aggregate Commitments may be increased subject to the terms provided in the New Revolving Credit Facility
• Maturity Date Extension — Term may be extended pursuant to Section 2.17 of the Credit Agreement

• Total Commitment — $5,000,000,000 aggregate revolving commitments as of the Closing Date (April 24, 2026)
• Alternative Currency Sublimit — $4,500,000,000 sublimit for borrowings in Canadian Dollars, British Pound Sterling and Euros (part of, not in addition to, the Aggregate Commitments)
• Interest Rate — Base Rate Loans — Margin of 0% to 0.25% over the greatest of: (1) the Wall Street Journal prime rate, (2) the federal funds effective rate plus 0.50%, or (3) the Term SOFR rate plus 1.00%
• Interest Rate — SOFR Rate Loans — Margin of 0.625% to 1.25% over the applicable Term SOFR rate
• Interest Rate — Euro/Sterling/Canadian Dollar Loans — Margin of 0.625% to 1.25% over the rate determined by the relevant rate administrator
• Facility Fee — Ranges from 5.0 basis points (Pricing Level 1, rated ≥A+/A1/A+) to 15.0 basis points (Pricing Level 6, rated ≤BBB-/Baa3/BBB-) per annum based on ratings-based pricing grid; initial Pricing Level is III (7.0 basis points) until delivery of first Compliance Certificate
• Default Rate — Base Rate plus Applicable Rate (if any) plus 2% per annum; for Eurocurrency Rate Loans, the otherwise applicable interest rate plus 2% per annum
• Fee Letter — Letter agreement dated March 13, 2026 between the Company and Bank of America, plus any fee letter agreements with Arrangers (specific amounts not disclosed in the filing text)