SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 18, 2019
WALGREENS BOOTS ALLIANCE, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-36759 | 47-1758322 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) | ||
108 Wilmot Road, Deerfield, Illinois | 60015 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (847) 315-2500
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Common Stock, $0.01 par value | WBA | The Nasdaq Stock Market LLC | ||
2.875% Walgreens Boots Alliance, Inc. notes due 2020 | WBA20 | The Nasdaq Stock Market LLC | ||
3.600% Walgreens Boots Alliance, Inc. notes due 2025 | WBA25 | The Nasdaq Stock Market LLC | ||
2.125% Walgreens Boots Alliance, Inc. notes due 2026 | WBA26 | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 | Entry Into a Material Definitive Agreement. |
Extension Agreement to 364-Day Revolving Credit Agreement
As previously disclosed, on January 18, 2019, Walgreens Boots Alliance, Inc. (the Company) entered into a 364-day revolving credit agreement (the Credit Agreement) with the lenders from time to time party thereto and Mizuho Bank, Ltd. (Mizuho), as administrative agent.
On December 18, 2019, the Company entered into an Extension Agreement (the Extension Agreement) relating to the Credit Agreement with the lenders party thereto and Mizuho, as administrative agent. The Extension Agreement extends the Maturity Date (as defined in the Credit Agreement) for an additional period of 364 days to January 28, 2021. Such extension shall become effective on January 30, 2020, subject to the Company satisfying certain customary conditions set forth in the Extension Agreement. The Extension Agreement makes no changes to significant terms of the Credit Agreement other than to extend the Maturity Date. The total commitments under the Credit Agreement remain $2 billion.
The foregoing description of the Extension Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Extension Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
The lenders under the Credit Agreement (as extended by the Extension Agreement) and/or their affiliates have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending and/or commercial banking services, or other services for the Company and its subsidiaries, for which they have received, and may in the future receive, customary compensation and expense reimbursement.
Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an OffBalance Sheet Arrangement of a Registrant. |
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibit
Exhibit |
Description | |
10.1 | Extension Agreement, dated as of December 18, 2019, by and among Walgreens Boots Alliance, Inc., the lenders party thereto and Mizuho Bank, Ltd., as administrative agent. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WALGREENS BOOTS ALLIANCE, INC. | ||||||
Date: December 18, 2019 | By: | /s/ Joseph B. Amsbary, Jr. | ||||
Title: | Vice President and Corporate Secretary |
Exhibit 10.1
December 18, 2019
Mizuho Bank, Ltd.,
as Administrative Agent
under the Credit Agreement
referred to below
Extension Agreement
Ladies and Gentlemen:
The undersigned hereby agrees to extend the Maturity Date under the 364-Day Revolving Credit Agreement dated as of January 18, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the Credit Agreement) among Walgreens Boots Alliance, Inc., a Delaware corporation (the Borrower), Mizuho Bank, Ltd. (Mizuho), as administrative agent, and certain other parties thereto for an additional period of 364 days to January 28, 2021, which extension shall become effective on January 30, 2020 (the Extension Effective Date), subject to (a) on or prior to the Extension Effective Date (i) execution and delivery of counterparts to this Extension Agreement by all Lenders consenting to the Maturity Date Extension described herein, which consenting Lenders shall constitute Required Lenders under the Credit Agreement, and (ii) prepayment of all amounts (if any) required to be paid or prepaid pursuant to Section 2.02(a) and (c) of the Credit Agreement, (b) delivery to the Administrative Agent of a certificate dated as of the Extension Effective Date signed by an Authorized Officer of the Borrower (i) certifying and attaching the resolutions adopted by the Borrower approving or consenting to such extension and (ii) certifying as to the matters set forth in Section 2.02(d) of the Credit Agreement and (c) payment of all fees, costs and expenses due and payable to the Administrative Agent, for itself and on behalf of the Lenders, or its counsel on the Extension Effective Date (including pursuant to any fee letter executed and delivered, or required to be executed and delivered, in connection with the Credit Agreement or the extension). Capitalized terms defined in the Credit Agreement are used herein with the same meaning.
Except to the extent hereby modified, the Credit Agreement and each of the Loan Documents remain in full force and effect and are hereby ratified and affirmed. Except as expressly provided herein, this Extension Agreement shall not be deemed (a) to be a consent granted pursuant to, or a waiver or modification of, any term or condition of the Credit Agreement or any of the instruments or agreements referred to therein or (b) to prejudice any right or rights which the Administrative Agent or the Lenders may now have or have in the future under or in connection with the Credit Agreement or any of the instruments or agreements referred to therein. Unless the context indicates otherwise, on and after the Extension Effective Date, whenever the Credit Agreement is referred to in the Credit Agreement, the other Loan Documents or any of the instruments, agreements or other documents or papers executed or delivered in connection therewith, such
reference shall be deemed to mean the Credit Agreement as amended by this Extension Agreement.
This Extension Agreement shall be deemed to be a Loan Document for all purposes under the Credit Agreement. This Extension Agreement shall be construed in accordance with and governed by the laws of the State of New York. This Extension Agreement may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which shall be an original and all of which, when taken together, shall constitute but one and the same instrument. A facsimile or .pdf copy of a counterpart signature page shall serve as the functional equivalent of a manually executed copy for all purposes.
[Signature Pages Follow]
MIZUHO BANK, LTD., | ||||
as the Administrative Agent and as a Lender | ||||
By: | /s/Tracy Rahn | |||
Name: | Tracy Rahn | |||
Title: | Authorized Signatory |
[Signature Page to Extension Agreement]
Bank of America, N.A., | ||||
as a Lender | ||||
By: | /s/J. Casey Cosgrove | |||
Name: | J. Casey Cosgrove | |||
Title: | Director |
[Signature Page to Extension Agreement]
HSBC Bank USA, N.A | ||||
as a Lender | ||||
By: | /s/James Smith | |||
Name: | James Smith | |||
Title: | Vice President |
[Signature Page to Extension Agreement]
Intesa Sanpaolo S.p.A New York Branch | ||||
as a Lender | ||||
By: | /s/Alessandro Toigo | |||
Name: | Alessandro Toigo | |||
Title: | Head of Corporate Desk | |||
By: | /s/William Denton | |||
Name: | William Denton | |||
Title: | Global Relationship Manager |
[Signature Page to Extension Agreement]
MUFG BANK, LTD., | ||||
as a Lender | ||||
By: | /s/Steve Aronowitz | |||
Name: | Steve Aronowitz | |||
Title: | Managing Director |
[Signature Page to Extension Agreement]
UniCredit Bank AG, New York Branch | ||||
as a Lender | ||||
By: | /s/Luca Balestra | |||
Name: | Luca Balestra | |||
Title: | Managing Director | |||
By: | /s/Laura Shelmerdine | |||
Name: | Laura Shelmerdine | |||
Title: | Associate Director |
[Signature Page to Extension Agreement]
JPMORGAN CHASE BANK, N.A | ||||
as a Lender | ||||
By: | /s/Stephen Lescher | |||
Name: | Stephen Lescher | |||
Title: | Vice President |
[Signature Page to Extension Agreement]
U. S. BANK NATIONAL ASSOCIATION, | ||||
as a Lender | ||||
By: | /s/Conan Schleicher | |||
Conan Schleicher | ||||
Senior Vice President |
[Signature Page to Extension Agreement]
National Westminster Bank Plc, | ||||
as a Lender | ||||
By: | /s/Michael Collins | |||
Name: | Michael Collins | |||
Title: | Director |
[Signature Page to Extension Agreement]
The Toronto-Dominion Bank, New York Branch, | ||||
as a Lender | ||||
By: | /s/Peter Kuo | |||
Name: | Peter Kuo | |||
Title: | Authorized Signatory |
[Signature Page to Extension Agreement]
Agreed and accepted as of
the date first above written:
WALGREENS BOOTS ALLIANCE, INC. | ||||
as the Borrower | ||||
By: | /s/Aidan Clare | |||
Name: | Aidan Clare | |||
Title: | Senior Vice President and | |||
Global Treasurer | ||||
By: | /s/John Devlin | |||
Name: | John Devlin | |||
Title: | Vice President, Global Treasury |
[Signature Page to Extension Agreement]