US Foods upsizes ABL facility to $2.3B, extends maturity to Dec 2027

On December 7, 2022, US Foods, Inc. (“USF”) entered into an Amendment No. 3 (the “Amendment”) to that certain ABL credit agreement, dated as of May 31, 2019 (as amended, the “ABL Credit Agreement”), among USF, the subsidiaries of USF party thereto, the lenders and issuing lenders party thereto and Wells Fargo Bank, National Association, as administrative agent and collateral agent, to, among other things, increase the commitments provided by certain lenders thereunder by $310.0 million to an aggregate amount of $2.3 billion, replace the London Interbank Offered Rate interest rate benchmark with a forward-looking term rate based on the secured overnight financing rate as administered by the Federal Reserve Bank of New York, as determined in accordance with the ABL Credit Agreement, and extend the maturity of the ABL Credit Agreement to December 7, 2027, subject to a springing maturity date in the event that more than $300 million in aggregate principal amount of indebtedness under any o