SYSCO CORP (SYY): debt financing — Sysco issues $1.0B in senior notes (5.750% 2029 / 6.000% 2034); net proceeds $987.5M

SYSCO CORP

Issued $500M 5.750% Senior Notes due 2029 and $500M 6.000% Senior Notes due 2034.
Net proceeds approximately $987.5M after underwriters' discounts and expenses.
Proceeds for working capital, capex, commercial paper repayment, and to fund part of pending Edward Don & Company acquisition.
Notes are unsecured senior obligations, rank equally with existing and future unsecured senior debt.
Edward Don acquisition announced October 11, 2023, subject to regulatory approval and closing conditions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SYSCO CORP incurred senior notes of $500,000,000 aggregate principal amount of the Company's 6.000% Senior Notes due 2034 at 6.000% per annum maturing January 17, 2034.

Instrument: senior notes
Principal: $500,000,000 aggregate principal amount of the Company's 6.000% Senior Notes due 2034
Rate: 6.000% per annum
Maturity: January 17, 2034
Event: incurrence

Exact text from the filing

On November 17, 2023, Sysco Corporation (the " Company ") issued and sold $500,000,000 aggregate principal amount of the Company's 5.750% Senior Notes due 2029 (the " 2029 Notes ") and $500,000,000 aggregate principal amount of the Company's 6.000% Senior Notes due 2034

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SYSCO CORP incurred senior notes of $500,000,000 aggregate principal amount of the Company's 5.750% Senior Notes due 2029 at 5.750% per annum maturing January 17, 2029.

Instrument: senior notes
Principal: $500,000,000 aggregate principal amount of the Company's 5.750% Senior Notes due 2029
Rate: 5.750% per annum
Maturity: January 17, 2029
Event: incurrence

Exact text from the filing

On November 17, 2023, Sysco Corporation (the " Company ") issued and sold $500,000,000 aggregate principal amount of the Company's 5.750% Senior Notes due 2029

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SYSCO CORP entered into Forty-Fourth Supplemental Indenture and Forty-Fifth Supplemental Indenture with The Bank of New York Mellon Trust Company, N.A. and U.S. Bank Trust Company, N.A. valued at $500,000,000 aggregate principal amount of 5.750% Senior Notes due 2029 and $500,000,000 aggregate p (effective 2023-11-17).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, N.A. and U.S. Bank Trust Company, N.A.
Value: $500,000,000 aggregate principal amount of 5.750% Senior Notes due 2029 and $500,000,000 aggregate p
Effective: 2023-11-17

Exact text from the filing

On November 17, 2023, Sysco Corporation (the “ Company ”) issued and sold $500,000,000 aggregate principal amount of the Company’s 5.750% Senior Notes due 2029 (the “ 2029 Notes ”) and $500,000,000 aggregate principal amount of the Company’s 6.000% Senior Notes due 2034 (the “ 2034 Notes ” and, together with the 2029 Notes, the “ Notes ”).

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26 debt financings filed in the last 30 days. Browse all debt financings →

SYSCO CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-279789

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