Cardinal Health Announces Offering of Senior Notes and Redemption of Outstanding Senior Notes

DUBLIN, Ohio, Nov. 7, 2014 /PRNewswire/ -- Cardinal Health today announced that it has commenced a registered public offering to sell $1.2 billion aggregate principal amount of senior notes due 2019, senior notes due 2024 and senior notes due 2044 (collectively, the "New Notes").  Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering. 

Cardinal Health intends to use the proceeds of this offering to fund the redemption of all of its outstanding 4.00% Notes due June 15, 2015, 5.80% Notes due October 15, 2016, 5.85% Notes due December 15, 2017 and 6.00% Notes due June 15, 2017 (collectively, the "Existing Notes") and the related "make-whole" premiums. 

The New Notes will be offered under Cardinal Health's existing effective shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement and accompanying prospectus describing the terms of this offering will be filed with the SEC. Copies of the prospectus supplement and accompanying prospectus related to this offering may be obtained at no cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained by contacting Deutsche Bank Securities Inc. at 1-800-503-4611, by contacting Goldman, Sachs & Co. at 1-866-471-2526, by contacting J.P. Morgan Securities LLC at 1-212-834-4533 or by contacting Morgan Stanley & Co. LLC at 1-866-718-1649.

This press release shall not constitute a notice of redemption of the Existing Notes, and shall not constitute an offer to sell or the solicitation of an offer to buy the New Notes or any other securities, nor shall there be any sale of such New Notes or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Cardinal Health

Headquartered in Dublin, Ohio, Cardinal Health, Inc. CAH is a $91 billion health care services company that improves the cost-effectiveness of health care. As the business behind health care, Cardinal Health helps pharmacies, hospitals, ambulatory surgery centers, clinical laboratories and physician offices focus on patient care while reducing costs, enhancing efficiency and improving quality. Cardinal Health is an essential link in the health care supply chain, providing pharmaceuticals and medical products and services to more than 100,000 locations each day and is also the industry-leading direct-to-home medical supplies distributor. The company is a leading manufacturer of medical and surgical products, including gloves, surgical apparel and fluid management products. In addition, the company operates the nation's largest network of radiopharmacies that dispense products to aid in the early diagnosis and treatment of disease. Ranked #22 on the Fortune 500, Cardinal Health employs 34,000 people worldwide.

Cautions Concerning Forward-Looking Statements

This news release contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook and expense accruals. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include competitive pressures in Cardinal Health's various lines of business; the ability to achieve the expected benefits from the generic sourcing joint venture with CVS Health Corporation; the frequency or rate of pharmaceutical price appreciation and the timing of generic and brand pharmaceutical introductions; the non-renewal or a default under one or more key customer or supplier arrangements or changes to the terms of or level of purchases under those arrangements; the ability to achieve the expected benefits from the AccessClosure and Sonexus Health acquisitions; uncertainties due to government health care reform including federal health care reform legislation; changes in the distribution patterns or reimbursement rates for health care products and services; the effects of any investigation or action by any regulatory authority; and changes in the cost of commodities such as oil-based resins, cotton, latex and diesel fuel. Cardinal Health is subject to additional risks and uncertainties described in Cardinal Health's Form 10-K, Form 10-Q and Form 8-K reports and exhibits to those reports. This news release reflects management's views as of November [7], 2014.  Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement.

SOURCE Cardinal Health