Monitor Henry Schein's leverage ratio and acquisition activity; the increased facility provides flexibility for M&A and capital returns, but the covenant step-up to 4.00x signals potential for leverage-accretive deals.
Price Chart
Executive Summary
Henry Schein amended and restated its revolving credit facility, increasing aggregate commitments from $1 billion to $1.25 billion and extending the termination date to September 19, 2031. The facility includes a $625 million multicurrency sublimit and a $100 million swingline sublimit. The company plans to use the facility for working capital, general corporate purposes, capital expenditures, stock repurchases, refinancing, and potential acquisitions.
Key Financial Metrics
Key Facts
- Aggregate revolving credit commitments increased from $1 billion to $1.25 billion
- Termination date extended to September 19, 2031
- Includes $625 million multicurrency sublimit and $100 million swingline sublimit
- Consolidated Net Leverage Ratio covenant set at maximum 3.50x, with step-up to 4.00x for qualifying acquisitions
- Facility is a fourth amended and restatement of the existing credit agreement
Financial Impact
Increased borrowing capacity by $250 million to $1.25 billion; extended maturity by approximately 5 years to 2031
Risk Factors
- Increased debt capacity could lead to higher leverage if fully drawn
- Covenant step-up for acquisitions may signal aggressive M&A strategy
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-397208 |
| Document: d110297d8k.htm | 0001193125-26-397208 |
| Document: 0001193125-26-397208-index-headers.html | 0001193125-26-397208 |
| Document: 0001193125-26-397208-index.html | 0001193125-26-397208 |
| Document: 0001193125-26-397208.txt | 0001193125-26-397208 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 19d ago | 8-K | $84.63 $86.99 | ▲ +2.79% | ▲ +3.07% | $84.25 (−0.45%) |
Sep 22, 2026 5w ago | 8-K | $87.43 $84.97 | ▼ −2.81% | ▼ −1.63% | $84.25 (−3.64%) |
Aug 4, 2026 12w ago | 8-K | $89.11 $89.18 | ▲ +0.08% | ▲ +0.18% | $84.25 (−5.45%) |
Aug 4, 2026 12w ago | Institutional Cluster | $89.11 $89.18 | ▲ +0.08% | ▲ +0.18% | $84.25 (−5.45%) |
Jul 30, 2026 12w ago | 8-K | $85.17 $88.23 | ▲ +3.59% | ▼ −0.03% | $84.25 (−1.08%) |
Jun 11, 2026 19w ago | Institutional Cluster | $81.25 $79.92 | ▼ −1.64% | ▼ −2.31% | $84.25 (+3.69%) |
May 22, 2026 22w ago | 8-K | $74.21 $76.40 | ▲ +2.95% | ▲ +1.27% | $84.25 (+13.53%) |
May 12, 2026 24w ago | DEFA14A | $69.35 $72.69 | ▲ +4.82% | ▲ +4.74% | $84.25 (+21.49%) |
Apr 8, 2026 28w ago | DEFA14A | $75.53 $77.42 | ▲ +2.50% | ▼ −1.01% | $84.25 (+11.55%) |
Mar 2, 2026 34w ago | Insider Cluster | $81.37 $78.10 | ▼ −4.02% | ▼ −2.81% | $84.25 (+3.54%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers