ROSEMONT, Ill.--(BUSINESS WIRE)--
US Foods – US Foods Holdings Corp. (NYSE: USFD) today announced
that its direct, wholly owned subsidiary, US Foods, Inc. intends to
pursue a refinancing of its existing Term Loan B Facility of $2,042
million, the $258 million aggregate principal amount of its existing
Senior Notes expected to remain outstanding after giving effect to a
partial redemption from IPO proceeds, and its existing CMBS Facility of
$472 million.
The transaction is expected to be financed through a $2,300 million
seven-year Senior Secured Term Loan B Facility, additional unsecured
senior indebtedness, and cash on hand.
The targeted closing for the funding of the new financings is
mid-to-late June.
There can be no assurance that the refinancing will be completed, and if
completed, in whole or only in part.
About US Foods Holding Corp.
US Foods Holding Corp. is a large foodservice distributor serving chefs
and foodservice operators across the country. Its customers include
independent and multi-unit restaurants, healthcare and hospitality
entities, government and educational institutions. The company employs
approximately 25,000 people in 62 locations nationwide. US Foods Holding
Corp. is headquartered in Rosemont, Ill.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that are
based on management's beliefs and assumptions and information currently
available to management. Forward-looking statements are subject to known
and unknown risks and uncertainties, many of which may be beyond our
control. We caution you that the forward-looking information presented
in this press release is not a guarantee of future events, and that
actual events may differ materially from those made in or suggested by
the forward-looking information contained in this press release. In
addition, forward-looking statements generally can be identified by the
use of forward-looking terminology such as "may," "plan," "seek,"
"comfortable with," "will," "expect," "intend," "estimate,"
"anticipate," "believe" or "continue" or the negative thereof or
variations thereon or similar terminology. A number of important factors
could cause actual events to differ materially from those contained in
or implied by the forward-looking statements, including those factors
discussed in our filings with the U.S. Securities & Exchange Commission
(the "SEC"), which can be found at the SEC's website www.sec.gov.
Any forward-looking information presented herein is made only as of the
date of this press release, and we do not undertake any obligation to
update or revise any forward-looking information to reflect changes in
assumptions, the occurrence of unanticipated events, or otherwise.
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Source: US Foods