Cencora Amends Credit Pact, Ups Facility to $7B, Cuts Receivables Line
COR sits 29% above its 52-week low of $244.82.
Summary
Cencora amended its credit agreement, increasing the revolving facility to $7 billion and extending maturity to July 2031. The receivables securitization facility was reduced from $1.5 billion to $1 billion. This follows the Q3 earnings release and raised guidance earlier today, adding detail on the company's liquidity management. The net effect on borrowing capacity is neutral, but the shift in facility mix may reflect changing working capital needs.
At the time of this announcement, COR was trading at $316.06 on NYSE in the Trade & Services sector, with a market capitalization of approximately $59.6B. The 52-week trading range was $244.82 to $377.54. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.