Cencora secures $4.5 billion in term loans to fund OneOncology acquisition
On January 12, 2026, Cencora entered into two term loan agreements totaling $4.5 billion to help fund its proposed acquisition of the majority of OneOncology equity it does not already own, and to repay OneOncology debt. The company also increased its revolving credit commitments by $1.0 billion to $5.5 billion. The loans add debt that shareholders will bear, and funding is subject to completion of the acquisition.
Key points
- $1.5 billion senior unsecured term loan with JPMorgan Chase Bank, N.A. as administrative agent: $500 million maturing two years after drawdown and $1.0 billion maturing three years after drawdown
- $3.0 billion 364-day senior unsecured term loan with Citibank, N.A. as administrative agent
- Revolving credit commitments increased by $1.0 billion to $5.5 billion
- Leverage covenant of 4.00 to 1.00, which may be raised to 4.50 to 1.00 after closing a material acquisition; $4.5 billion in bridge financing commitments reduced to zero
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 16, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.