McKesson Unit Prices $2.25 Billion Leveraged Loan Ahead of IPO

A $2.25 billion leveraged loan for McKesson Corp.’s medical-surgical unit priced on Wednesday, ahead of its planned initial public offering.

The six-year debt for McKesson Medical-Surgical Top Holdings Inc. has a margin 2.25 percentage points above benchmark and was issued at 99.5 cents on the dollar, according to a person familiar with the matter who asked not to be identified. Price talk on the loan was tightened Tuesday, nearly a week after launching.

Proceeds will repay intercompany debt to McKesson and go toward general corporate purposes, the person added. JPMorgan Chase & Co. led the sale.

McKesson announced ...