McKesson issues $500M 4.250% notes due 2029 to redeem higher-rate 2026 notes

MCKESSON CORP

Issued $500M aggregate principal of 4.250% Notes due 2029 at 99.946% of par.
Net proceeds ~$498M after underwriting discount; use to fund redemption of 5.250% Notes due 2026.
Notes rank equally with existing unsecured debt; redeemable at make-whole plus 15 bps before Aug 15, 2029.
Calls all $500M of 5.250% 2026 Notes at 100% plus accrued interest; refinancing lowers coupon by 100 bps.

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