By pricing $500M in senior notes at 5.125%, Cencora is taking a strategic step to manage its debt more efficiently. The redemption of the 3.400% Senior Notes due in 2024, which are likely at a higher interest rate, will reduce interest expenses. Additionally, allocating remaining proceeds for general corporate purposes indicates a focus on strengthening the company's overall financial health and operational capabilities. This move is likely to be viewed positively by investors as it demonstrates prudent financial management and a commitment to optimizing the company's capital structure.