Business Context and Reporting Period
Company: Henry Schein, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: September 15, 2017
Event: Entry into Material Definitive Agreements regarding the amendment and restatement of three private placement shelf facilities.
Key Financial Metrics and Debt Facilities
This filing details amendments to three specific debt facilities. No revenue, profit, or cash flow data is provided in this document.
| Facility Counterparty | Original Date | Amendment Details | Notes Issued (as of Sept 15, 2017) |
|---|---|---|---|
| PGIM, Inc. (Prudential) | August 9, 2010 | Extended issuance period to September 15, 2020 | $250,000,000 |
| NYL Investors LLC (New York Life) | August 9, 2010 | Increased aggregate principal from $275M to $300M; Extended issuance period to September 15, 2020 | Approx. $235,700,000 |
| MetLife (MLIC/MLIAC) | April 27, 2012 | Extended issuance period to September 15, 2020 | $50,000,000 |
Material Changes Versus Prior Period
- Capacity Increase: The New York Life facility capacity was increased by $25,000,000 (from $275,000,000 to $300,000,000).
- Maturity Extension: The outside date for the issuance period for all three facilities (Prudential, New York Life, and MetLife) was extended to September 15, 2020.
- Outstanding Debt: The filing confirms the aggregate principal amounts currently issued under each facility but does not provide comparative data for prior periods.
Guidance, Outlook, and Risks
Management Commentary: The filing states that the descriptions of the amended facilities are not complete and are qualified in their entirety by the actual terms of the agreements attached as Exhibits 4.1, 4.2, and 4.3.
Guidance and Risks: This Form 8-K does not contain forward-looking guidance, risk factors, or discussion of contingencies beyond the terms of the debt amendments.
Investor Verification Checklist
- Review the full text of the Amended and Restated Private Shelf Agreement (Exhibit 4.1) for interest rate terms and covenants.
- Review the Amended and Restated Master Note Facility (Exhibit 4.2) to confirm the specific terms of the $25 million capacity increase.
- Review the Amended and Restated Master Note Purchase Agreement (Exhibit 4.3) for MetLife facility terms.
- Verify the total outstanding debt load by cross-referencing these private placements with the company's most recent 10-Q or 10-K filing.