STOCK TITAN

Sysco arranges $2B in 2031 notes at 5.600%

The CAD offerings are expected to close September 25, while the USD and EUR offerings are expected to close October 6, subject to customary conditions.

(High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Sysco Corporation and Sysco Holdings Corporation entered underwriting agreements for offerings of senior and junior subordinated notes. The USD senior notes are $1,750 million at 5.450% due 2029; $2,000 million at 5.600% due 2031; $1,500 million at 5.800% due 2033; $2,000 million at 5.950% due 2036; $1,000 million at 6.400% due 2046; $1,750 million at 6.500% due 2056; and $750 million at 6.600% due 2066. The CAD senior notes are C$750 million at 4.250% due 2030 and C$750 million at 4.800% due 2034.

USD junior subordinated notes are $1,500 million at 7.100%, $1,000 million at 7.250%, and $1,400 million at 7.350%, each due 2056; EUR junior subordinated notes are €1,000 million at 6.000% due 2056. Certain subsidiary guarantors are also parties to the agreements. The CAD offerings are expected to close September 25, 2026, subject to customary closing conditions; the USD and EUR offerings are expected to close October 6, 2026, subject to customary closing conditions.

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Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
2029 USD Senior Notes aggregate principal amount and rate $1,750 million at 5.450% Due 2029
2031 USD Senior Notes aggregate principal amount and rate $2,000 million at 5.600% Due 2031
2036 USD Senior Notes aggregate principal amount and rate $2,000 million at 5.950% Due 2036
Series A USD Junior Subordinated Notes aggregate principal amount and rate $1,500 million at 7.100% Due 2056
Series C USD Junior Subordinated Notes aggregate principal amount and rate $1,400 million at 7.350% Due 2056
2030 CAD Senior Notes aggregate principal amount and rate C$750 million at 4.250% Due 2030
2034 CAD Senior Notes aggregate principal amount and rate C$750 million at 4.800% Due 2034
EUR Junior Subordinated Notes aggregate principal amount and rate €1,000 million at 6.000% Due 2056
Junior Subordinated Notes financial
"7.100% Series A Junior Subordinated Notes due 2056"
Junior subordinated notes are a type of bond: a loan investors make to a company that ranks low in the repayment order if the company runs into trouble. Because they are paid after other creditors, they usually offer higher interest to compensate for greater risk; think of them as being near the back of the line at a crowded payout window. Investors care because these notes affect potential returns and downside exposure, and they influence a company’s overall borrowing risk and credit profile.
Underwriting Agreement financial
"entered into an Underwriting Agreement"
An underwriting agreement is a contract where a company selling new stocks or bonds hires financial firms to buy those securities and resell them to investors. It matters because the agreement sets the offering price, number of securities, fees and which party bears the risk if sales fall short—think of it as a promise that the sale will happen and a roadmap investors can use to understand how the new securities reach the market.
subsidiary guarantors financial
"the Issuers and certain subsidiary guarantors"
customary closing conditions financial
"subject to the satisfaction of customary closing conditions"
"Customary closing conditions" are standard rules or checks that must be met before a business deal can be finalized, like making sure all paperwork is in order or that certain approvals are obtained. They matter because they help protect both parties, ensuring everything is in place and reducing the risk of surprises or problems after the deal is closed.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What USD senior notes did Sysco (SYY) arrange?

The USD senior notes include $1,750 million at 5.450% due 2029, $2,000 million at 5.600% due 2031, $1,500 million at 5.800% due 2033, $2,000 million at 5.950% due 2036, $1,000 million at 6.400% due 2046, $1,750 million at 6.500% due 2056, and $750 million at 6.600% due 2066.

When are Sysco's (SYY) note offerings expected to close?

The CAD offerings are expected to close September 25, 2026, subject to customary closing conditions. The USD senior, USD junior subordinated, and EUR junior subordinated offerings are expected to close October 6, 2026, subject to customary closing conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Co-Registrant Document Type 8-K
Co-Registrant Amendment Flag false
Co-Registrant Document Period End Date September 22, 2026
Co-Registrant Entity Central Index Key 0002134688
Co-Registrant Written Communications false
Co-Registrant Soliciting Material false
Co-Registrant Pre-commencement Tender Offer false
Co-Registrant Pre-commencement Issuer Tender Offer false

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 22, 2026

 

 

 

Commission File Number

Exact name of Registrant as specified in its charter;
State of Incorporation;

Address and Telephone Number

IRS Employer Identification No.

1-06544

Sysco Corporation

(Delaware Corporation)

1390 Enclave Parkway, Houston, TX 77077-2099

(281) 584-1390

 

74-1648137

333-297217

Sysco Holdings Corporation

(Delaware Corporation)

1390 Enclave Parkway, Houston, TX 77077-2099

(281) 584-1390

42-1897852

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, $1.00 Par Value   SYY   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

  Emerging growth company
Sysco Corporation ¨
   
Sysco Holdings Corporation ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Sysco Corporation ¨
   
Sysco Holdings Corporation ¨

 

 

 

 

 

 

Item 8.01Other Events.

 

USD Senior Notes

 

On September 22, 2026, with respect to the offering and sale by Sysco Corporation and Sysco Holdings Corporation (each, an “Issuer” and together, the “Issuers”) of (i) $1,750 million aggregate principal amount of 5.450% Senior Notes due 2029 (the “2029 Notes”), (ii) $2,000 million aggregate principal amount of 5.600% Senior Notes due 2031 (the “2031 Notes”), (iii) $1,500 million aggregate principal amount of 5.800% Senior Notes due 2033 (the “2033 Notes”), (iv) $2,000 million aggregate principal amount of 5.950% Senior Notes due 2036 (the “2036 Notes”), (v) $1,000 million aggregate principal amount of 6.400% Senior Notes due 2046 (the “2046 Notes”), (vi) $1,750 million aggregate principal amount of 6.500% Senior Notes due 2056 (the “2056 Notes”) and (vii) $750 million aggregate principal amount of 6.600% Senior Notes due 2066 (the “2066 Notes” and, together with the 2029 Notes, the 2031 Notes, the 2033 Notes, the 2036 Notes, the 2046 Notes and the 2056 Notes, the “USD Senior Notes”), the Issuers and certain subsidiary guarantors entered into an Underwriting Agreement (the “USD Senior Notes Underwriting Agreement”) with Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters listed in Schedule II thereto (the “USD Senior Notes Underwriters”).

 

CAD Senior Notes

 

On September 22, 2026, with respect to the offering and sale by the Issuers of (i) C$750 million aggregate principal amount of 4.250% Senior Notes due 2030 (the “2030 Notes”) and (ii) C$750 million aggregate principal amount of 4.800% Senior Notes due 2034 (the “2034 Notes” and, together with the 2030 Notes, the “CAD Senior Notes”), the Issuers and certain subsidiary guarantors entered into an Underwriting Agreement (the “CAD Senior Notes Underwriting Agreement”) with Goldman Sachs & Co. LLC, TD Securities Inc., Merrill Lynch Canada Inc. and the other underwriters listed in Schedule II thereto (the “CAD Senior Notes Underwriters”).

 

USD Junior Subordinated Notes

 

On September 22, 2026, with respect to the offering and sale by the Issuers of (i) $1,500 million aggregate principal amount of 7.100% Series A Junior Subordinated Notes due 2056 (the “Series A Notes”), (ii) $1,000 million aggregate principal amount of 7.250% Series B Junior Subordinated Notes due 2056 (the “Series B Notes”) and (iii) $1,400 million aggregate principal amount of 7.350% Series C Junior Subordinated Notes due 2056 (the “Series C Notes” and, together with the Series A Notes and the Series B Notes, the “USD Junior Subordinated Notes”), the Issuers and certain subsidiary guarantors entered into an Underwriting Agreement (the “USD Junior Subordinated Notes Underwriting Agreement”) with Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters listed in Schedule II thereto (the “USD Junior Subordinated Notes Underwriters”).

 

EUR Junior Subordinated Notes

 

On September 22, 2026, with respect to the offering and sale by the Issuers of €1,000 million aggregate principal amount of 6.000% Junior Subordinated Notes due 2056 (the “EUR Junior Subordinated Notes”), the Issuers and certain subsidiary guarantors entered into an Underwriting Agreement (the “EUR Junior Subordinated Notes Underwriting Agreement” and, together with the USD Senior Notes Underwriting Agreement, the CAD Senior Notes Underwriting Agreement and the USD Junior Subordinated Notes Underwriting Agreement, the “Underwriting Agreements” and each, an “Underwriting Agreement”) with Goldman Sachs & Co. LLC, TD Global Finance unlimited company, Merrill Lynch International, J.P. Morgan Securities plc, Wells Fargo Securities International Limited and the other underwriters listed in Schedule II thereto (the “EUR Junior Subordinated Notes Underwriters” and, together with the USD Senior Notes Underwriters, the CAD Senior Notes Underwriters and the USD Junior Subordinated Notes Underwriters, the “Underwriters”).

 

The offering of the CAD Senior Notes is expected to close on September 25, 2026, subject to the satisfaction of customary closing conditions contained in the CAD Senior Notes Underwriting Agreement. The offerings of the USD Senior Notes, the USD Junior Subordinated Notes and the EUR Junior Subordinated Notes are each expected to close on October 6, 2026, subject to the satisfaction of customary closing conditions contained in the applicable Underwriting Agreement.

 

 

 

 

Each Underwriting Agreement contains customary representations, warranties, covenants and agreements of the Issuers, and customary conditions to closing, indemnification rights and termination provisions. The foregoing description of each Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the applicable Underwriting Agreement, which are filed as Exhibits 1.1 through 1.4 hereto.

 

The representations and warranties set forth in each of the Underwriting Agreements were made solely for the benefit of the parties to the applicable Underwriting Agreement and (i) should not be treated as categorical statements of fact, but rather as a means of allocating the risk to one of the parties if those statements prove to be inaccurate, (ii) may have been qualified in the applicable Underwriting Agreement in accordance with its terms, (iii) may apply contractual standards of “materiality” that are different from “materiality” under applicable securities laws and (iv) were made only as of the dates specified in the applicable Underwriting Agreement.

 

Each series of Notes is being offered and sold under the Registration Statement on Form S-3 (Registration No. 333-298926) and are each described in an applicable Prospectus Supplement dated September 22, 2026.

 

Item 9.01Financial Statements and Exhibits.

 

(d)Exhibits

 

Exhibit
Number
  Description
1.1   Underwriting Agreement for the USD Senior Notes, dated as of September 22, 2026, by and among the Issuers, the Guarantors listed on Schedule I thereto, and Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters listed on Schedule II thereto.
     
1.2   Underwriting Agreement for the CAD Senior Notes, dated as of September 22, 2026, by and among the Issuers, the Guarantors listed on Schedule I thereto, and Goldman Sachs & Co. LLC, TD Securities Inc., Merrill Lynch Canada Inc.and the other underwriters listed in Schedule II thereto.
     
1.3   Underwriting Agreement for the USD Junior Subordinated Notes, dated as of September 22, 2026, by and among the Issuers, the Guarantors listed on Schedule I thereto, and Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters listed on Schedule II thereto.
     
1.4   Underwriting Agreement for the EUR Junior Subordinated Notes, dated as of September 22, 2026, by and among the Issuers, the Guarantors listed on Schedule I thereto, and Goldman Sachs & Co. LLC, TD Global Finance unlimited company, Merrill Lynch International, J.P. Morgan Securities plc, Wells Fargo Securities International Limited and the other underwriters listed in Schedule II thereto.
     
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Sysco Corporation
(Registrant)
   
  By: /s/ Andrew Wurdack
    Andrew Wurdack
    Vice President, Securities and Corporate Governance & Assistant Secretary
     
  Sysco Holdings Corporation
(Registrant)
   
Date: September 24, 2026 By: /s/ Andrew Wurdack
    Andrew Wurdack
    Secretary

 

 

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