debt
confidence high
sentiment neutral
materiality 0.55
Sysco issues $1.25B in senior notes; 5.100% due 2030 and 5.400% due 2035
SYSCO CORP
- $700M 5.100% notes due Sept 23, 2030; $550M 5.400% notes due March 23, 2035.
- Net proceeds ~$1.24B after discounts and expenses.
- Proceeds for general corporate purposes, including repaying commercial paper borrowings.
- Notes are unsecured senior obligations, guaranteed by certain subsidiaries.
- Make-whole redemption before par call dates; 101% change-of-control offer triggered by ratings decline.