ROSEMONT, Ill.--(BUSINESS WIRE)--
US Foods Holding Corp. (NYSE: USFD) announced that its direct,
wholly-owned subsidiary, US Foods, Inc. (“US Foods”), has priced $600
million aggregate principal amount of 5.875% senior notes due 2024 (the
“Notes”).
US Foods intends to use the proceeds from the sale of the Notes,
together with borrowings under a new senior secured term loan B facility
(expected to be entered into concurrently with the issuance of the
Notes) and proceeds from the initial public offering of US Foods Holding
Corp., to repay its existing senior secured term loan B facility, to
redeem its outstanding 8.50% senior notes due 2019, to repay its CMBS
fixed facility and to pay related fees and expenses. Remaining proceeds,
if any, may be used for other general corporate purposes.
The Notes are being offered and sold in transactions exempt from
registration under the Securities Act of 1933, as amended (the
“Securities Act”). The Notes and the guarantees will be offered only to
qualified institutional buyers pursuant to Rule 144A under the
Securities Act and to non-U.S. persons outside the United States in
reliance on Regulation S under the Securities Act.
The Notes and the guarantees have not been registered under the
Securities Act and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws.
This press release is for informational purposes only and shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
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