Texas-based food distributor Sysco Corp. on March 8 kicked off a cash tender offer to buy up to $200 million of its outstanding 6.625% senior notes due 2039, 7.16% debentures due 2027, 6.5% debentures due 2028 and 5.375% senior notes due 2035.
The 6.625% senior notes due 2039 has an outstanding principal amount of $250 million, while the 7.16% debentures due 2027 has an outstanding principal amount of $50 million. The 6.5% debentures due 2028 has a principal amount of $225 million, and the 5.375% senior notes due 2035 has a principal amount of $500 million.
The offer will expire April 4 at 11:59 p.m. ET, Sysco added.
Holders who give their securities by 5 p.m. ET on March 21 will receive the full tender offer consideration plus a tender payment of $50 per $1,000 principal amount of securities. Those who submit their securities between March 21 and April 4 will still receive the full consideration but not the tender payment.
Shareholders can withdraw tendered securities by March 21 at 5 p.m. ET.
