Sysco Corp. issued $500 million aggregate principal amount of its 3.550% senior notes due 2025 and $500 million aggregate principal amount of its 4.450% senior notes due 2048 in a public offering, according to a March 19 SEC filing.
The notes were sold pursuant to a March 8 underwriting agreement between the company and Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, TD Securities (USA) LLC and Wells Fargo Securities LLC, as representatives of several underwriters.
The Texas-based food distributor said it intends to use a portion of the net proceeds to fund its purchase of up to $200 million combined aggregate principal amount of its 6.625% senior notes due 2039; 7.160% debentures due 2027; 6.500% debentures due 2028 and 5.375% senior notes due 2035. The rest of the proceeds will be used to repay debt and for general corporate purposes.