U.S. Foodservice to Offer $1.55 Billion Notes

The notes will be sold in the Rule 144a private placement market, according to Reuters and its source.

The offering includes $1 billion in eight-year senior payment-in-kind toggle notes, which allow the issuer to pay interest in cash or additional notes. It also includes $550 million in 10-year senior subordinated notes.

Proceeds reportedly will be used to finance the previously announced acquisition of the distributorship by private equity firms Clayton, Dubilier & Rice and Kohlberg Kravis Roberts.


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