Sysco prices about $10.75 billion of USD senior notes in multi-tranche offering

Sysco Corporation (NYSE: SYY) and Sysco Holdings Corporation said they entered underwriting agreements on Sept. 22 for a multi-currency notes offering that includes $10.75 billion aggregate principal amount of USD senior notes across seven maturities, according to a Form 8-K filed Sept. 24.

The USD senior notes comprise $1.75 billion of 5.450% notes due 2029, $2.0 billion of 5.600% notes due 2031, $1.5 billion of 5.800% notes due 2033, $2.0 billion of 5.950% notes due 2036, $1.0 billion of 6.400% notes due 2046, $1.75 billion of 6.500% notes due 2056, and $750 million of 6.600% notes due 2066. Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC acted as representatives for the USD senior notes underwriters.

The companies also priced C$750 million of 4.250% senior notes due 2030 and C$750 million of 4.800% senior notes due 2034; $1.5 billion of 7.100% Series A junior subordinated notes due 2056, $1.0 billion of 7.250% Series B junior subordinated notes due 2056, and $1.4 billion of 7.350% Series C junior subordinated notes due 2056; and €1.0 billion of 6.000% junior subordinated notes due 2056.

The 8-K said the CAD senior notes offering is expected to close on Sept. 25, 2026, and that the USD senior notes, USD junior subordinated notes, and EUR junior subordinated notes offerings are each expected to close on Oct. 6, 2026, subject to customary closing conditions in the applicable underwriting agreements. Certain subsidiary guarantors are parties to the agreements.

The filing was made under Item 8.01 (Other Events) and attaches the underwriting agreements and forms of notes as exhibits. The report does not state the intended use of proceeds in the Item 8.01 narrative.

Offering snapshot

• USD senior notes: $10.75 billion across seven tranches (2029–2066)
• CAD senior notes: C$1.5 billion (2030 and 2034)
• USD junior subordinated notes: $3.9 billion across three series due 2056
• EUR junior subordinated notes: €1.0 billion due 2056
• Expected CAD close: Sept. 25, 2026
• Expected USD/EUR close: Oct. 6, 2026

Sources

1. Sysco Corporation Form 8-K, filed Sept. 24, 2026, accession 0001104659-26-110464

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