- Sysco closed a public offering of C$1.5 billion aggregate principal amount of senior notes.
- The offering comprised C$750 million of 4.250% Senior Notes due 2030 and C$750 million of 4.800% Senior Notes due 2034.
- Net proceeds to the issuers are approximately C$1.49 billion after underwriting discounts and expenses.
- Proceeds will be used for a portion of the cash consideration for the pending acquisition of Jetro Restaurant Depot.
- If the acquisition is not consummated, proceeds will fund a special mandatory redemption of the notes.
- Goldman Sachs, TD Securities and Merrill Lynch Canada acted as joint book-running managers.
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