Cardinal Health Issues $2.9B in Senior Notes to Fund Acquisitions of GI Alliance and Advanced Diabetes Supply

CARDINAL HEALTH INC

Issued $500M of 4.700% Notes due 2026, $750M of 5.000% Notes due 2029, $1B of 5.350% Notes due 2034, and $650M of 5.750% Notes due 2054.
Net proceeds will partially fund the proposed acquisitions of GI Alliance Holdings and Advanced Diabetes Supply Group.
If the GI Alliance acquisition is not closed by November 11, 2025, the company must redeem the notes at 101% of principal plus accrued interest.
Bridge loan commitments from Bank of America were reduced by net proceeds and remaining excess commitments terminated on November 22, 2024.

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