Business Context and Reporting Period
This Form 8-K was filed by AmerisourceBergen Corporation (now Cencora, Inc.) on June 28, 2013. The report details the entry into a material definitive agreement regarding the company's financing structure.
Key Financial Metrics
The filing focuses on liquidity and debt capacity rather than operational performance metrics.
- Securitization Facility Base Limit: Increased from $700 million to $950 million.
- Seasonal Expansion Option: An additional $250 million available for seasonal needs during December and March quarters, subject to bank approval.
- Underlying Assets: Accounts receivables originated by AmerisourceBergen Drug Corporation (ABDC) for pharmaceutical sales and related services.
- Guaranty: AmerisourceBergen Corporation serves as the performance guarantor for ABDC's obligations.
Material Changes
The primary material change is the execution of the Fifth Amendment to the Amended and Restated Receivables Purchase Agreement. This amendment increased the base limit of the securitization facility by $250 million, enhancing the company's ability to fund ongoing business needs.
Outlook and Management Commentary
Management indicates the facility is designed to provide additional liquidity and funding for ongoing business operations. The structure allows for flexibility to meet seasonal demand through the optional expansion of commitments.
Investor Verification Checklist
- Verify the total available liquidity under the amended facility ($950 million base + potential $250 million seasonal).
- Confirm the terms of the performance guaranty provided by the parent company.
- Review the specific technical changes made to the facility in the Fifth Amendment (Exhibit 10.1).
- Note that this filing does not contain revenue, profit, or cash flow data for the period.