Sysco Completes $25.65 Billion in Financing Transactions for Its Acquisition of Jetro Restaurant Depot 

Paul, Weiss represented Sysco Corporation, the world’s largest food-away-from-home distributor, in financing transactions raising $25.65 billion for its acquisition of Jetro Restaurant Depot. The transactions consisted of public offerings of $1 billion of Sysco common stock, $10.75 billion in aggregate principal amount of senior notes, C$1.5 billion in aggregate principal amount of Canadian senior notes, $3.9 billion in aggregate principal amount of junior subordinated notes and €1 billion aggregate principal amount of euro junior subordinated notes, as well as the entry into a $3 billion term loan credit agreement, a $3 billion revolving credit agreement, a $750 million term loan and a cross-currency swap.

The Paul, Weiss team for the financing transactions was led by corporate partners Christodoulos Kaoutzanis, John Kennedy, Matthew Leist, Eric Wedel and Manuel Frey, and included partners James Langston and Andrew Krause, and counsel Lyudmila Bondarenko and Steven Lackey; and tax partner Brian Krause.