Sysco lines up multi-currency notes worth roughly $20 billion
The Canadian-dollar notes are due to close September 25, 2026, with the US dollar and euro offerings following on October 6, 2026
Published
Chart: SYY, one-minute prices, three sessions
Sysco and Sysco Holdings have entered underwriting agreements to sell a large slate of new notes across three currencies.
The US dollar senior notes total $10,750 million, split into seven tranches of $1,750 million to $2,000 million each, maturing between 2029 and 2066. Sysco is also selling C$1,500 million of senior notes in two tranches, $3,900 million of junior subordinated notes in three tranches due 2056, and €1,000 million of junior subordinated notes also due 2056.
The Canadian dollar notes are expected to close September 25, 2026. The US dollar senior notes and both junior subordinated offerings are expected to close October 6, 2026.
The borrowing, worth roughly $20 billion combined, is meant to help fund Sysco's acquisition of JRD Unico, after the company raised under $1 billion through a recent equity sale. The size and long maturity ladder, stretching out to 2066, point to confidence in the deal's strategic fit, but the heavy reliance on debt rather than equity leaves Sysco more leveraged through 2056.