Company: SYY
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0001193125-25-197606
Chunk: 0

Company: SYSCO CORP
Filing Date: 2025-09-08
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item 1.01      Entry into a Material Definitive Agreement.  

On September 5, 2025, Sysco Corporation (“ Sysco”), a Delaware corporation, and its wholly-owned subsidiaries, Sysco Canada, Inc., a British Columbia corporation (“ Sysco Canada”), and Sysco Global Holdings B. V., a Netherlands limited liability company (together with Sysco Canada, the “ Subsidiary Borrowers”), entered into a Credit Agreement with Bank of America, N. A., as Administrative Agent, and the lenders and guarantors party thereto (the “ New Credit Agreement”), which replaces Sysco’s existing $3.0 billion senior revolving credit facility that was originally entered into on April 29, 2022, (as amended, the “ Existing Credit Agreement”). The aggregate commitments of the lenders under the New Credit Agreement, as of the effective date, are $3.0 billion, with an option to increase such commitments to $4.0 billion, and with a maturity date of September 5, 2030.

The New Credit Agreement contains customary terms and conditions for credit facilities of this type, including, without limitation, affirmative and negative covenants containing limitations on consolidations, mergers, and sales of assets, limitations on the incurrence of certain liens, and certain reporting covenants, including, without limitation, a requirement to maintain a certain ratio of consolidated EBITDA to consolidated interest expense. The New Credit Agreement also contains customary events of default, including, without limitation, nonpayment of obligations, violation of covenants, and certain bankruptcy or insolvency events. Certain of the events of default are subject to exceptions, materiality qualifiers, and/or grace periods customary for credit facilities of this type. Borrowings by Sysco and the Subsidiary Borrowers under the New Credit Agreement are, in general, guaranteed by those wholly-owned subsidiaries of Sysco that are guarantors of the Company’s senior notes and debentures. Borrowings by the Subsidiary Borrowers are guaranteed by Sysco. As was the case with the Existing Credit Agreement, the New Credit Agreement will serve as a backstop for Sysco’s commercial paper program.

The foregoing description of the New Credit Agreement is included to provide information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the New Credit Agreement, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.