Cencora (COR) has released an update to notify the public and investors about an entry into a material definitive agreement.
Cencora, Inc. successfully completed a $500 million sale of its 5.125% Senior Notes due in 2034, with interest payments twice a year and options for early redemption. These unsecured obligations, ranking equally with future unsecured debt but subordinate to subsidiary liabilities, come with restrictions on the company’s operations, such as limits on creating liens and sale-leaseback transactions. In case of a change of control, the company must offer to repurchase the notes at a premium. Defaults could lead to immediate payment demands, highlighting the importance of the company’s adherence to the agreed terms.
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For a comprehensive understanding of the announcement, you can read the full document here.
