BB&T Capital Markets Serves as Co-Manager for Sysco Corporation $1 Billion Two-Tranche Offering of Senior Notes
On March 8, 2018, BB&T Capital Markets served as a co-manager for a two-tranche offering of $1 billion senior notes by Sysco Corporation.
Proceeds from the offering are being used, in part, to fund the purchase of up to $200 million combined aggregate principal amount of 2039 notes, 2027 debentures, 2028 debentures and 2035 notes in a concurrent tender offer, as well as repay outstanding borrowings under the company’s commercial paper program and for general corporate purposes.
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. They provide fresh, refrigerated, and frozen food products, as well as non-food products, supplies and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers, and in July 2016 acquired the Brakes Group, a leading European foodservice business by revenue, supplying similar products, as well as non-food products and supplies, to more than 50,000 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.