BB&T Serves as Co-Manager for Sysco’s $2.5 Billion Issue of Senior Notes due 2019, 2021, 2026, and 2046
On March 22, 2016, BB&T Capital Markets served as a co-manager for a $2.5 billion four-tranche offering of senior notes by Sysco Corp. The offering consisted of $500 million of 1.90% senior notes due 2019, 2.50% senior notes due 2021; $1 billion of 3.30% senior notes due 2026; and $500 million of 4.50% senior notes due 2046. Proceeds from the offering were to fund a portion of the purchase price for the Brakes Group acquisition, which includes the repayment of $2.3 billion of Brakes Group indebtedness.
About the Companies
Sysco Corporation, acting through its subsidiaries and divisions, is the largest North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. Sysco provides products and related services to approximately 425,000 customers, including:
• healthcare and educational facilities;
• lodging establishments; and
• other foodservice customers.
Food & Agribusiness
BB&T Capital Markets assists middle market clients across all sectors of the Food & Agribusiness industry. We have established relationships with a wide range of public and private food companies, private equity investors, and other industry participants. As full-service platform, we provide M&A advisory, equity underwriting, debt capital markets, corporate banking, sales and trading, and private capital raising services. Our nationally recognized industry expertise, combined with our best-in-class transaction execution, enables us to maximize outcomes for our corporate and private equity clients.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.