SYSCO CORP (SYY): debt financing — Sysco enters into $3.0B term loan and $3.0B revolver to finance Jetro Restaurant Depot acquisition

SYSCO CORP

$3.0B revolver replaces existing facility; increases to $4.0B after Jetro closing, option to $5.0B.
$3.0B term loan comprises $1.25B Tranche A (364-day) and $1.75B Tranche B (2-year maturity).
Proceeds fund Jetro acquisition, refinance JRD debt, and pay transaction fees and expenses.
Credit agreements include customary covenants, requiring consolidated EBITDA to interest expense ratio.
Guarantees provided by Sysco's senior note guarantors and by Sysco for subsidiary borrowers.

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 term loan of $3.0 billion ($1.25 billion Tranche A and $1.75 billion Tranche B) with Bank of America, N.A. maturing Tranche A: 364 days from Closing Date; Tranche B: two years from Closing Date.

Instrument: term loan
Principal: $3.0 billion ($1.25 billion Tranche A and $1.75 billion Tranche B)
Counterparty: Bank of America, N.A.
Maturity: Tranche A: 364 days from Closing Date; Tranche B: two years from Closing Date
Event: incurrence

Exact text from the filing

The aggregate commitments of the lenders under the New Term Credit Agreement, as of the effective date, are $3.0 billion, which consists of a $1.25 billion tranche of commitments (the “ Tranche A Commitments ”) and a $1.75 billion tranche of commitments (the “ Tranche B Commitments ”).

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

SYSCO CORP incurred revolving credit of $3.0 billion (increasing to $4.0 billion after Closing Date, with option to increase to $5.0 billion) with Bank of America, N.A. maturing April 16, 2031.

Instrument: revolving credit
Principal: $3.0 billion (increasing to $4.0 billion after Closing Date, with option to increase to $5.0 billion)
Counterparty: Bank of America, N.A.
Maturity: April 16, 2031
Event: incurrence

Exact text from the filing

The aggregate commitments of the lenders under the New Revolver Credit Agreement, as of the effective date, are $3.0 billion, and such commitments will increase to $4.0 billion from and after the consummation of the previously announced acquisition of JRD Unico, Inc.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

SYSCO CORP entered into New Revolver Credit Agreement with Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto valued at $3.0 billion (effective 2026-04-16).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto
Value: $3.0 billion
Effective: 2026-04-16

Exact text from the filing

On April 16, 2026, Sysco Corporation (" Sysco "), a Delaware corporation, and its wholly-owned subsidiaries, Sysco Canada, Inc., a British Columbia corporation (" Sysco Canada "), and Sysco Global Holdings B.V., a Netherlands limited liability company (together with Sysco Canada, the " Subsidiary Borrowers "), entered into a Credit Agreement with Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto (the " New Revolver Credit Agreement "), which replaces Sysco’s existing $3.0 billion senior revolving credit facility that was originally entered into on September 5, 2025 (as amended, the " Existing Credit Agreement ").

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

SYSCO CORP entered into New Term Credit Agreement with Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto valued at $3.0 billion (effective 2026-04-16).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto
Value: $3.0 billion
Effective: 2026-04-16

Exact text from the filing

On April 16, 2026, Sysco also entered into a Term Loan Credit Agreement with Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto (the " New Term Credit Agreement " and, together with the New Revolver Credit Agreement, the " New Credit Agreements ").

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

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Source: SEC EDGAR

accession 0001193125-26-164087

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