Sysco Corporation and its wholly-owned subsidiary Sysco Holdings Corporation have closed a public offering of C$1.5 billion in aggregate principal amount of senior notes, split evenly between C$750 million of 4.250% Senior Notes due 2030 and C$750 million of 4.800% Senior Notes due 2034. The issuers estimate they will receive approximately C$1.49 billion from the offering after deducting underwriting discounts and estimated offering expenses. Sysco intends to use the net proceeds to pay a portion of the cash consideration for its pending acquisition of Jetro Restaurant Depot, along with related fees, costs and expenses, or, if the acquisition is not consummated, to fund the special mandatory redemption of the notes under their terms. The offering was made under the issuers' shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission and was also made on a private placement basis in Canada. Goldman Sachs & Co. LLC, TD Securities Inc. and Merrill Lynch Canada Inc. acted as joint book-running managers.
Sysco CorporationSysco closed a C$1.5B senior notes offering to fund part of its pending Jetro Restaurant Depot acquisition, a financing event.
Toronto Dominion Bank
