Sysco Announces $1.1 Billion Debt Reduction in Anticipation of Impending Market Recovery
Sysco Corporation, the leading global foodservice distribution company, announced it had reduced its outstanding debt by a total of $1.1 billion.
On March 9, the company repaid the remaining $700 million in outstanding borrowings under its long-term revolving credit facility that expires on June 28, 2024. In addition, on March 10, Sysco’s United Kingdom-based subsidiary, Brake Bros Limited, repaid £300 million of its £600 million in aggregate principal amount of notes outstanding under its commercial paper program, equating to approximately...
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