Issuer: | Sysco Corporation |
|
Title of Security: | 5.375% Senior Notes due 2019 |
|
Size: | $250,000,000 |
|
Maturity Date: | March 17, 2019 |
|
Coupon: | 5.375% |
|
Interest Payment Dates: | March 17 and September 17, commencing September 17, 2009 |
|
Price to Public: | 99.321% |
|
Benchmark Treasury: | 2.75% due February 15, 2019 |
|
Benchmark Treasury Yield: | 2.864% |
|
Spread to Benchmark Treasury: | T + 260 bps |
|
Re-offer Yield: | 5.464% |
|
Make-Whole Call: | T + 40 bps |
|
Change of Control: | Upon the occurrence of both (i) a change of control of
Sysco Corporation and (ii) a downgrade of the notes
below an investment grade by two of the three rating
agencies named below within a specified period, Sysco
Corporation will be required to make an offer to
purchase the notes at a price equal to 101% of their
principal amount, plus accrued and unpaid interest to
the date of repurchase. |
|
Expected Settlement Date: | T + 3; March 17, 2009 |
|
CUSIP Number: | 871829 AM9 |
|
Anticipated Ratings: | A1 by Moodys Investors Service, Inc. |
|
A+ by Standard & Poors Ratings Services |
||
Joint Book-Running Managers: | Goldman, Sachs & Co. |
|
Banc of America Securities LLC |
||
Co-Managers | Barclays Capital |
|
Mitsubishi UFJ Securities |
||
TD Securities |
||
Wachovia Securities |
||
BB&T Capital Markets |
||
BNY Capital Markets, Inc. |
||
Comerica Securities |
||
PNC Capital Markets LLC |
||
The Williams Capital Group, L.P. |
1
Issuer: | Sysco Corporation |
|
Title of Security: | 6.625% Senior Notes due 2039 |
|
Size: | $250,000,000 |
|
Maturity Date: | March 17, 2039 |
|
Coupon: | 6.625% |
|
Interest Payment Dates: | March 17 and September 17, commencing September 17, 2009 |
|
Price to Public: | 98.061% |
|
Benchmark Treasury: | 4.5% due May 15, 2038 |
|
Benchmark Treasury Yield: | 3.627% |
|
Spread to Benchmark Treasury: | T + 315 bps |
|
Re-offer Yield: | 6.777% |
|
Make-Whole Call: | T + 50 bps |
|
Change of Control: | Upon the occurrence of both (i) a change of control of
Sysco Corporation and (ii) a downgrade of the notes
below an investment grade by two of the three rating
agencies named below within a specified period, Sysco
Corporation will be required to make an offer to
purchase the notes at a price equal to 101% of their
principal amount, plus accrued and unpaid interest to
the date of repurchase. |
|
Expected Settlement Date: | T + 3; March 17, 2009 |
|
CUSIP Number: | 871829 AN7 |
|
Anticipated Ratings: | A1 by Moodys Investors Service, Inc. |
|
A+ by Standard & Poors Ratings Services |
||
Joint Book-Running Managers: | Goldman, Sachs & Co. |
|
Banc of America Securities LLC |
||
Co-Managers | Barclays Capital |
|
Mitsubishi UFJ Securities |
||
TD Securities |
||
Wachovia Securities |
||
BB&T Capital Markets |
||
BNY Capital Markets, Inc. |
||
Comerica Securities |
||
PNC Capital Markets LLC |
||
The Williams Capital Group, L.P. |
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