On September 25, 2026, Sysco Corporation and Sysco Holdings Corporation issued and sold two series of senior notes to raise capital. The issuers sold a total of CAD $1.5 billion in aggregate principal amount, comprising CAD $750 million of 4.250% Senior Notes due 2030 and CAD $750 million of 4.800% Senior Notes due 2034.
The notes were offered pursuant to an automatically effective Registration Statement on Form S-3ASR (Registration No. 333-298926) filed on September 14, 2026. The net proceeds to the issuers from the sale of the notes were approximately CAD $1.49 billion, after deducting underwriters' discounts and estimated offering expenses.
According to the filing, the issuers intend to use the net proceeds to pay a portion of the cash consideration for the pending acquisition of JRD Unico, Inc., a Delaware corporation, and Warehouse Realty, LLC, a Delaware limited liability company. The funds will also cover all other fees, costs, and expenses related to the acquisition. If the acquisition is not consummated, the proceeds will be used to pay for a Special Mandatory Redemption defined in the notes.
The notes are unsecured obligations of the issuers and will rank equally with all existing and future unsecured senior indebtedness. Interest on the notes is payable semi-annually in arrears on April 3 and October 3, commencing April 3, 2027. The 2030 notes mature on October 3, 2030, and the 2034 notes mature on October 3, 2034.
In a separate transaction on the same date, Sysco Corporation, Sysco Holdings Corporation, and U.S. Bank Trust Company entered into a Fiftieth Supplemental Indenture. This agreement amends the Existing Senior Notes Indenture to allow Sysco Holdings to guarantee the existing senior notes of Sysco Corporation.
