Henry Schein Announces Extension Of Existing Credit Facilities

Henry Schein, Inc.

, the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, today announced the extension of several existing credit facilities, totalling $1,775 million. The facilities comprise the following: A committed $500 million revolving credit facility that is extended through September 2019. The facility's lead arrangers and co-bookrunners were JPMorgan Securities, Inc. and HSBC Bank USA, N.A. A committed $300 million facility agreement with The Bank of Tokyo-Mitsubishi UFJ, Ltd., that is extended through April 2017 based on the securitization of certain accounts receivable. The company's private placement shelf agreements that are increased by an additional $200 million to $975 million, and extended through September 2017. These shelf agreements are uncommitted and continue to be maintained with three leading insurance companies. "We are happy to announce the extension of our credit facilities at attractive rates, which in combination with our strong cash flow, provide us with additional flexibility to take advantage of acquisition and share repurchase opportunities, as well as use them for general corporate purposes," said Steven Paladino, Executive Vice President and Chief Financial Officer of Henry Schein. "These facilities support our long-term internal and acquisition growth strategies while maintaining a strong capital structure."