Deal Description: On November 6, 2023, Sysco Corporation (NYSE: SYY) announced its public offering of $500.0 million aggregate principal amount of its 5.750% Senior Notes due 2029 and $500.0 million aggregate principal amount of its 6.000% Senior Notes due 2034. The offering is expected to close on November 17, 2023, subject to the satisfaction of customary closing conditions.

Sysco Corporation plans to use the net proceeds from the sale of the notes for general corporate purposes, which may include working capital, capital expenditures, repayment of commercial paper borrowings and to finance acquisitions, including to fund a portion of the purchase price of its pending acquisition of Edward Don & Company, a leading distributor of food service equipment, supplies, and disposables based in Chicago, Illinois.

Baker Botts L.L.P. represented the underwriters in the offering. BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan Securities, TD Securities and Wells Fargo Securities acted as joint book-running managers. 

Outside Counsel to Sysco: Reed Smith LLP

Value: $1.0 billion

Baker Botts Lawyers/Office Involved:

• Corporate: Josh Davidson (Partner, Houston); Eileen Boyce (Partner, Houston); Michael Mazidi (Associate, Houston); Sarah Dyer (Associate, Houston)
• Tax: Jon Lobb (Partner, Houston); Michael Kovacich (Associate, Houston)

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.