On October 6, 2026, Sysco Corporation and Sysco Holdings Corporation issued and sold a combined total of $15.65 billion in debt securities. The offering included $10.75 billion in aggregate principal amount of USD Senior Notes and $3.9 billion in aggregate principal amount of USD Junior Subordinated Notes. Additionally, the companies issued €1.0 billion in aggregate principal amount of Euro Junior Subordinated Notes.
The net proceeds from the USD Senior Notes offering were approximately $10.64 billion, while the USD Junior Subordinated Notes raised approximately $3.8 billion. The Euro Junior Subordinated Notes raised approximately €0.99 billion. The company intends to use the net proceeds to pay a portion of the cash consideration for the pending acquisition of JRD Unico, Inc. and Warehouse Realty, LLC, along with related fees and expenses. If the acquisition is not completed, the proceeds will be used to pay for a Special Mandatory Redemption of the notes.
The USD Senior Notes issuance consists of seven series with varying maturities ranging from 2029 to 2066. The Series include the 2029 Senior Notes ($1.75 billion at 5.450%), the 2031 Senior Notes ($2.0 billion at 5.600%), the 2033 Senior Notes ($1.5 billion at 5.800%), the 2036 Senior Notes ($2.0 billion at 5.950%), the 2046 Senior Notes ($1.0 billion at 6.400%), the 2056 Senior Notes ($1.75 billion at 6.500%), and the 2066 Senior Notes ($750 million at 6.600%). Interest on these notes is payable semi-annually.
The USD Junior Subordinated Notes issuance consists of three Series A, B, and C notes, all due in 2056. The Series A Notes ($1.5 billion) carry an initial interest rate of 7.100%, the Series B Notes ($1.0 billion) carry an initial rate of 7.250%, and the Series C Notes ($1.4 billion) carry an initial rate of 7.350%. These notes are reset to the Five-year U.S. Treasury Rate plus a spread, with the spread increasing over time.
