Sysco Announces C$1.5 Billion Senior Note Offering to Fund Acquisition of Restaurant Depot
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What happened
Sysco Corporation announced a public offering of senior notes totaling C$1.5 billion, issued by Sysco and its wholly-owned subsidiary, Sysco Holdings Corporation. The offering includes C$750 million in 4.250% Senior Notes due 2030 and C$750 million in 4.800% Senior Notes due 2034. The Issuers expect to receive approximately C$1.49 billion from the offering, which was made via a prospectus supplement filed with the SEC.
Why it matters
The net proceeds from the offering are intended to pay a portion of the cash consideration for the pending acquisition of Restaurant Depot. Alternatively, the funds would be used to cover special mandatory redemption of the notes if the acquisition does not close.
Who's involved
- SyscoIssuing company seeking capital through the note offering.
- Restaurant DepotCompany targeted for acquisition by Sysco.
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The entities involved
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- South Mountain Merger Corp. was incorporated in Delaware for business operations on August 5, 2026.
- Sysco and Dingdong are consumer staples companies, with Sysco operating in the United States and Canada.
- YHN Acquisition I Co incorporated in the state of Delaware and listed on the Nasdaq stock exchange on August 16, 2026.
- AMASS Brands Group incorporated as a Delaware corporation on June 29, 2026.
- A company linked to California (Q104057194) was incorporated in Delaware in 1998.